I'll admit freely that I was certainly hoping for TPP. I'll admit freely that I am still disappointed that TPP won't be an option.
But after learning more about the approach to the game, I now "get" why it's FPP-only for gameplay, and I'm not in the least put off by it.
While I generally prefer TPP, I've also played countless FPP games that I love. There are even a few that I just can't enjoy in TPP. (Like Thief: Deadly Shadows. The option for TPP is there, and it functions perfectly, but it completely ruins the "Thief" experience for me. I must be in FPP.) All of that is, of course, just opinion, but I think it makes a strong argument about how perspective helps to define a particular game design. An even better example might be -- can you imagine playing Doom in TPP? It might be fun, but I really don't think it would be as identifiable nor carry the impact of Doom anymore. Vice versa...can you imagine playing Shadow of Mordor or one of the Batman: Arkham games in FPP? The entire, defining energy of the game would be completely transformed...if not outright lost.
That's one of the major considerations for Cyberpunk, from what I gather. Which leads me directly to another detail I've wanted to address for a while:
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"Immersion". I have grown to hate this word over time. It doesn't mean anything anymore. Or rather, it means so many different things to so many different people, that any actual meaning (in day-to-day usage) is almost wholly vestigial.
I know it's been used by the dev team on several occasions, but I do not believe that they were in any way trying to indicate that FPP vs. TPP will create a more immersive experience for the player. That's wholly subjective and up to individual people. (I played TW3 in TPP, and I was completely immersed, man. I couldn't possibly be any more immersed.) The "immersion" being discussed here is how immersed the character is in Night City and the world of Cyberpunk. Try to think of this as a film director considering whether to use a close-up shot vs. a wide shot. By pulling the camera in or out, it creates a different energy on the screen. A close-in shot, by the nature of the perspective, is necessarily more intimate and immediate. It brings the audience right into that character, their reactions, the subtleties of the emotions they're expressing, etc. A wide-angle shot is a totally different energy. It's creates a more sweeping sense of place, a grander scale, and focusing on the environment moreso than a particular character.
Each type of perspective is used for different things, but a film has to use the right perspective to tell the story that they're trying to tell. So, imagine a film like Momento or Pulp Fiction containing way more, wide-angle, establishing shots of each location, lots of crowd shots, lots of crane shots... That wouldn't have added anything to the films and would have probably felt awkward and out-of-place, since the dramatic action focused on the characters. Now imagine the Lord of the Rings or Saving Private Ryan without those same, wide-angle shots. It would have been really difficult to feel epic if the movies were a bunch of close-ups of the characters with no wide shots to show the scale of the locations and huge battles. Both films contained both types of shots, and both films contained intimate and impactful moments...but both styles of film focused on very different energies and executions to be effective. (Now, whether I prefer one over the other is my personal opinion, but it's a fact of reality that I can't create an intimate, character-focused experience with wide-angle shots, and I can't create an sweeping, epic experience with close-ups.)
So, focus of Cyberpunk's gameplay seems to be more close-up and personal. That says to me that there will be lots of character work and a strong focus on viewing the world from the intimate perspective of V him/herself. Doesn't mean there won't be sweeping action scenes or vistas of Night City from various locations, but the focus will be on the more immediate and vulnerable perspective of V within the larger world...rather than the more cinematic camera safely floating 15 feet behind Geralt. So, the perspective of V is more "immersed" in each environment than the perspective of Geralt was, by comparison. (And once again, whether the player feels more immersed by one or the other is wholly subjective.)