I tried to play through it twice, and both times I stopped playing around the 10ish hour mark. The second time through I didn't really feel like there was much more I was going to find, so I never picked it back up.
On paper, I feel like I really love what this game is and has. The character progression, arpg combat, loot hunting, and multiplayer co-op done in a "diablo" style ticks a lot of boxes that make my brain say "yes please." Yet for whatever reason the game just didn't stick for me.
I think it's mostly the lack of an interesting narrative arc. The original Diablo games didn't have much story, but there was a lot to unpack in the worldbuilding and the interesting settings and enemies which gave a nice sense of progressing through their world. In Torchlight 2, things just kind of all start blending together. Blowing up mobs in the first hour doesn't feel much different than blowing up mobs 7 hours later, so the lack of story feels more pronounced. Plus the art style isn't exactly my thing, though it does look objectively nice.
I LOVED the pets though. I wish more games had pets like they are implemented in Torchlight 2.
If you're looking to play a Diablo style game, and you're on the fence about Torchlight's style and narrative, I highly recommend checking out Grim Dawn. After being fairly whelmed by Torchlight, I tried Grim Dawn and it was exactly what I was looking for in an arpg.