2.X having a proper overarching antagonist in the Leviathan but also letting every patch have a conclusive story arc has felt great.
I realize a ton of my fatigue in live service games is filler patches that feel like nothing happened, but the worst we've had since 1.3 was 1.4 (camellya exclusive development, not really moving the plot forward) and 2.3 (Ciaconna's quest was good, but it just hammers the 2.0 theme of "wow church bad").
1.3, 2.0, 2.1, 2.2, 2.4, and now 2.5 have all had good stories that started and concluded in their patch, with the 2.X patches also pushing a greater narrative. I could see an argument 2.0's ending was weak, but that's about it.