I agree that they have pitched the physics model at mid-range, and yes, it does feel nice when you hit a section of corners just right, but there are issues.
1) There appears to be a layer of driving assists that you can't turn off, and they appear to be, at times, dynamic, I wonder if this is there to cover up failings in the driving model that would appear with all assists off.
2) Weight transfer isn't simulated that well, suffers from the same issue as GT, as in not having any feeling of weight transfer in the cockpit view, but having it in the other views.
3) Tyre model appears to be very basic, slip angle doesn't appear to be very realistic, I also get a very "SImbin" feeling of canned under and oversteer affects.
Smacks of PGR4 to me, which isn't a bad thing, but personally I'd prefer some more options to be able to push the driving model into sim territory.