Depth? Questionable. Reactivity? Sure, but it's very shallow reactivity. It's really awesome that it acknowledges your class, sometimes race, etc. But often times those options lead to the same place, and some of those options are really unbalanced (for example, Barbarian -- those dialogue options are almost always made with advantage, whereas I can't recall a single Monk option having any, and Barbarian had a whole lot more to boot), and it's the same with choices. Voice work, animations, and graphics are all stellar.
I've felt the Eurogamer review that summed up BG3's approach to choice and reactivity as working extremely well providing you don't really try to fight what it's offering you (the 'yes, and' aspect they talk about) but it's not remotely comparable to, say, Disco Elysium as far as player agency goes which it's seemingly compared to by critics and audience. Pillars 2 is probably the game I'd put it up against, honestly.