TL;DR: I love it. It's a great keyboard. It's not quite a HHKB. It's expensive. It's not for everyone.
As a heavy keyboard user, it's my ultimate dream to never have to move my hands to use the mouse. Before the announcement of a new HHKB series, I was pretty happy with my HHKB Pro 2 Type-S and a Magic Trackpad setup. The compact design, retro design and light weight makes me enjoy typing on a daily basis. The HHKB Studio is a great keyboard, with a nice twist I've been waiting for, the track pointer. It provides an easy access for mouse control without moving the fingers away from the homerow. Though, I have to admit, when I first had the chance to try it at the NorCal 2023 Keyboard Meetup I was not impressed. The track pointer has a weird friction, makes it not as intuitive to use, and the seperated buttons in the buttons were akward and not super easy to reach. I decided to pass, but my die-hard HHKB spirit is calling, I couldn't resist the temptation and ordered one. After a few weeks of use, I'm happy to say that I'm in love with it.
The Good
Many complains about the non topre keys, which turns out to be my favorite part of the keyboard. To me, the original HHKB Pro 2 Type-S was too "hard" to press. I like the bounce of it, but pressing it seems to more efforts then my actually liking. The HHKB Studio, on the other hand, has a softer and shorter travel distance, which makes it easier to press.
The other key feature, the tracking pointer, was...okay. After spending a couple weeks getting used to it, I grow to like it. But it couldn't completely replace my trackpad. Despite the different level of sensitivity, I find it still hard to operate precise motion, such as pressing the close buttong on the corner of the screen.
The Bad
It's heavy keyboard, making it not really sutible for carrying around. It's more of a desktop work station heavy duty keyboard. Which is not the most attracive appeal of the HHKB series. Another big fuss of the keyboard is the gesture pad on the sides, which I find pretty not useful. They don't offer as much as it seems, especially with the limited remap tool options. I tried to set it to volume control, tab control and navigation. Not only because it's not as intuitive to use, but also because they are harder to reach then I expected. You either have to use your thumb or pinky to reach it, and gently rub it to trigger the action. Furthermore, it's just not as effective, while there are other better keybord options for those actions.
The Ugly
Even til this day, I still can't justify for the price. For a non topre keyboard, the price is just unreasonably high. It also comes with some flaws the original series doesn't have. It's not as portable as the original HHKB, and the track pointer is not as good as a trackpad. The gesture pad are almost useless.
Conclusion
I love the keyboard when I am working at my desk. It feels great to type on, the tracking pointer is a nice addition to the key. The only downside is that as a laptop user, I enjoy the portablity and the ease of carrying the original HHKB.