I finished it last month. It does have good grafics and I am a Crytek fan, but I don't like the LOD popping so much and there are other games (on consoles) that compensate the less powerful harware/engine with clever level-design and good artwork, too.
So I am not so much overwhelmed by the look of the game. Other than that the game has just great action and feels very much like an interactive SciFi action movie, which I really like a lot. It's a pity it's so short and the ending feels a bit like "Ohh - this thing was so expensive to develop and the release date is getting nearer - let's take out all the unfished stuff, ship it and make a sequel..."
I had the exactly same feeling. HL2 was also a short one, and they made sequels.