It felt more like a soft reboot/remake of Episode 4 than an actual sequel, but I enjoyed it all the same. The action set-pieces hit the mark, the characters were fun, the whiny teenage villain felt very much like how anakin should have been, the practical effects were great, and the light-sabers felt like deadly weapons rather than pathetic glowsticks. It also had a sense of humor, something the prequels sorely lacked.
However, I feel like they really played it safe. They could have told a new story whilst keeping a lot of what worked well in Episode 7 -
I would have kept the open with the First Order razing a village, but instead of it being back to stormtroopers again, it would be a small cult-like group of force-using Dark Side fanatics. Kylo Ren would lead the group, but may or may not be the dragon to the big bad. This would set the stakes quite high (evil force cult/multiple evil force users working in coordination) without having to resort to a new empire/death star. Rey would be among these force users, having been taken by the dark force cult as a child (keep the child abandonment stuff) - but she can't bring herself to kill one of the villagers (introduce Finn). They escape with the map to Luke.
This accomplishes a few things - Rey doesn't have to learn to use the force in 5 minutes, she's already force-powered. Secondly, she already knows Ren is Han's son, so she can seek Han out on purpose rather than bumping into him by accident, thus removing one annoying contrivance from the film. Thirdly, she is actively seeking the Luke map at the start rather than stumbling on it by accident, thus removing another plot contrivance. Fourthly, Rey is no longer some impeccably styled posh English lady whilst also somehow a desert dwelling scavenger. Finally, you don't need a new 'Evil Empire'.
From there the plot would diverge quite a lot from how episode 4 actually went. The plot would basically revolve around the good guys (Rey, Finn, Po and later Han), racing against the bad guys to find Luke. Rey would get more of an arc as she gets over her brainwashing and becomes a genuinely heroic character, Finn would stay about the same, and Po would get more screentime.