Looks really fun. I like the exploration side of it myself. Whenever I play something like GTA for example, I like to explore the world first and see what I can find before tackling the story. I feel like this is exactly that type of game where you can go right into exploring the world. Kinda like what Minecraft was.
I think if done right, it could be good. I think we've gotten too used to games showing us exactly where we need to go. I mean, RDR2 for example had waypoints, essentially a GPS, but if you wanted to, you could turn that off and use road signs and NPCs would sometimes tell you where to go. I thought that was cool, considering it made it feel more realistic.
I have a feeling they will guide you in some way, like at the start, they might say "Find land" or "Find shelter" or something. As well, it looks like maps eventually get filled in, so maybe the character builds up the map as you play, marking important landmarks, sights, and treasures, similar to how Arthur does in RDR2 when he discovers a new area. That would be my guess anyway, since they show a waypoint pinned on the map.
It might also work how Fortnite does, where when you land in an area that you have yet to go, it'll show up as blank & darkened on the map, and then once you go there, it reveals the location.