You need to be a fan of dialogue.
First of all, it isn't bad. It's not the game for me, but I can see why people like it. I don't know if I can say it is a must have, but it's worth checking out.
The Good:
I like the weapons. The graphics look extremely well. The power ups, upgrades, leveling and all that are very fun to play with. Be prepared to spend time trying to make decisions on how to build your character. You also have to make the upgrades and leveling for your team mates. A nice little edition I have yet to see in other video games. The story line is compelling right from the start, and immersive.
The Bad:
The game is extremely dialogue and cinematic heavy. You had better love reading your video games if you pick this one up. I'm not a big fan of 3rd person either.
All in all it is an allright game. Wouldn't necessarily make my top 10, but worth taking a look at.