I've only been using/playing with it for a few weeks, but I find it more contemporary and less clunky than selenium. And it's lighter and runs faster. I dislike passing around a driver to tests and the playwright built-in testing (which I think is wrapping the expect library) is pretty nice.
I haven't fully made peace with the selector API in playwright, which uses a lot of experimental css selectors and a custom DSL, but these are minor learning curve issues.
It’s faster than cypress and you have access to a massive ecosystem as well of things that speak the WebDriver protocol, as well as the ability to do hybrid and native mobile testing (through Appium).
I’ve been really happy with it and we’ve decided to go all-in on it for apps in the Ionic ecosystem.