Very nice atmosphere, like more chill and down to earth Hyper Light Drifter. The tree swaying animations are soothing.
Combat needs some juice, stat! Some hitstops, knockbacks, hit-flashes, particle effects etc would go a really long way. As it is, it's pretty "impactless". As combat seems to be an integral part of the gameplay, it needs to feel great! When done right, just killing one goblindude over and over in an empty room can be made so engaging you could do it thousands of times in a row and not get bored.
That said, I understand you ran out of time and maybe you would have wanted to add all the things I listed and more. As it is, it's still a pretty convincing draft of a prototype for a very promising action-rpg!
For the next jam, I'd seriously cut down on the feature-list; "open world RPG about exploration, dungeon delving, resource gathering, collecting randomly generated loot using a prefix/suffix system and building a town for yourself." is waaaaaaaaaay ambitious list of game-mechanics for a 2 week jam project! :D
Each feature there is a lot of work in its own and making them work together nicely is hard and even more work.
Theres nothing inherently wrong in overscoping though, trying to do all that. It's good to try and fail, "fail faster" is a great advice! Pretty much everyone overscopes their first few jam (and non jam) -games. But if you start with maybe one or two of those mechanics, make those mechanics feel fucking awesome, and make a handful of levels where you maybe explore what those mechanics can do in different ways. Thats always more convincing than a a list of unfinished features. Plus if you keep the scope small, you might just finish everything early and THEN you can start adding more of the features that you had in mind. I always keep a wishlists for projects where I put all them crazy ideas I WANT to add to the game, plus a tasks-list where I put all features I absolutely NEED for the game to work as it's intended.
I also keep having to remind myself: "K.I.S.S, keep it simply, stupid!" so much that it's become a sort of a mantra for me lol. I always want to add more but oftentimes removing or simplifying features/ideas is the right answer.
Enough rambling, it's a really good first jam-game in my opinion. Visuals and audio are already in a great shape! Movement and fighting mechanics are on a good foundation too but need a bit more polish.
Me likey!