Does it feel like Baldur's Gate 1&2? Not really, not to me. At the same time while it looks more like D:OS2 than BG2 it doesn't play like D:OS2 either. In fact, it's very much its own thing and not really like anything else out there. What I will say is that it does draw clear connections to the previous games so it doesn't feel divorced from Baldur's Gate 1 or 2, even though it feels different. You can get two of the same companions as in the previous games, and there's evidence of at least one more returning companion making an appearance of one kind or another.
What I will say is that it feels as immersive as its predecessors, despite the changes. It really does draw you in in the same way.