No, Godfall isn’t a service and there won’t be any micro-transactions. There is a campaign that you can finish and after that, you can jump into the end game content.
While there is a lot to do in the main campaign, there is still a lot to do when defeating the final boss. You can replay the various realms and have new challenges. (not mentioned in the interview but there is the Tower of Trials).
There is a mixture of random and dedicated drops. Read More