Just finished P5 a little while ago for the first time. I have a lot of thoughts on the matter but I figure I'll just list some of the things that come to mind. I know it's a spoiler topic but... yeah, spoilers and all that:
1. Thought the whole thing with Akechi was a bit of a miss. His betrayal was way too obvious, although I did love how it turned out that the group was aware of it the entire time and came up with a counter measure that was surprisingly thought out. The final confrontation with Akechi in the 7th Palace felt like it could have been expanded upon waaaay more, however, and Akechi going out the way he did just seemed... lame. I was really hoping there was going to be more to it than just that.
2. Same with Shido, really. Taking him down was pretty satisfying, second only to Kamoshida, IMO, but they could have done a better job at not making it so painfully obvious that he was the guy who screwed the MC over at the beginning of the game.
3. That said, the twist with IGOR really took me by surprise. I had read somewhere that there was an actual story explanation for why his voice was different, so I knew it was going to come up at some point... when Igor first starts talking doom and gloom and Caroline and Justine react in surprise I knew something was wrong. When I finally encountered the Holy Grail and heard it speak, things started clicking but I had trouble comprehending as to why. Really interesting twist to see Igor actually get targeted by the bad guy and was playing me for a fool (pun not intended). Biggest disappointment with real Igor returning is his old VA didn't greet me.
4. Glad that this game didn't try any bullshit with getting the good ending unlike P4. Not gonna lie--I got pretty soured on P4 because of that.
All in all, good game. I'd probably rank it higher than P4, but under P3. Perhaps. I plan to replay P4 sometime in the near future and maybe P3 again later so I can get a second opinion. I do think P5's villains were overall much weaker than the ones in 3 and 4 which is probably the biggest gripe I have with it.
Oh, I also managed to get all but three Confidants maxed, being Ohya (rank 9), Iwai (rank 8), and Shinya (rank 6). I'd say I didn't do too bad for a blind run.