Homeworld 3 is rated 'Strong' after being reviewed by 16 critics, with an overall average score of 80. It's ranked in the top 17% of games and recommended by 79% of critics.
The TLDR of the steam reviews seems to be to just buy and play the old ones. They are less pretty but much better mechanically and story wise. They also lack intrusive Denuvo DRM and data collection policies. I haven't played the game personally but that seems to be the consensus from the top couple of reviews.
Personally this one will be staying on my wishlist for a few years.
The campaign is a little cutscene-heavy and a little short, but the story isn't much worse than HW2's, maybe a little better imo.
Mechanically though, it's (probably) better than the remasters. Directional damage is still there, homing projectiles are gone, fighters dynamically form squads instead of staying in a big blob or fixed-width squads in 2. I read some of those reviews at most of them don't appear to have played more than the first 2 missions? Like, there was one lore error in one line of dialogue and people lost their goddamn minds.
I think it was really just a victim of 1) Embracer's implosion meaning it had to launch now or not at all and 2) people's expectations being all the way up at 11 since the last game was so long ago. Really, a little bit of story DLC to flesh out the main campaign and there would be no problems.
At least you can already try it, it's on EA on Epic store, and from what I saw trough streams, it's already a worthy successor despite not being complete.
It's the same game fundamentally, but improved and properly modernized in everyway.