I've been playing this quite a bit the last few months. It definitely plays a lot like D&D in the sense that a big part of it is about killing monsters and getting treasure. My least favorite part about the game is all the slayer quests. Your goal: Kill 30 wolves. Accomplished - new goal: Kill 60 wolves. It's such a grind, and it feels depopulating an area of its native species. I understand the need to keep predators in check, but this feels more like extermination.
On the plus side, there's more than just fighting in the story. You can ignore the story and explore Middle-earth on your own. Note that some areas are much too dangerous for lower-level characters. And there are festivals where your quests involve learning to dance and eating six pies in a minute.
Grognard Day: If an old-school D&D player sees his shadow, it means his group will spend six more weeks playing 5E.