I think the combat in the base game is definitely not especially good.
The weapons are limited, there's very little moment-to-moment decision making depth beyond very basic, outdated means to exploit ai/mechanics, the way the combat relates back to the other mechanics of the game are there but a little bare-bones imo, and there's little to facilitate individual fantasy or skill expression.
But I also think most people seeking a game like this aren't really expecting particularly good/deep combat, so you probably wouldn't consider that a great issue unless you meant to judge each feature of the game as equally important. It's easy to play this game without fighting much at all! That said, some design decisions (temporal storms, rifts, etc,) do make it seem like the game wants you to engage with action more often than others of its ilk.
...which in my opinion is a risky choice since the combat mechanics are pretty bare bones! haha
I think the ways the average end-user imagines these problems should be solved (dual-wielding, for example) probably wouldn't do the trick; the things that make combat feel good are usually more elemental than new features/gimmicks. They tend to have to do with the depth present in the very basic model of combat, that then has complexity added on top of that foundation.
I doubt very much that the VS team/direction is interested in that kinda thing though, personally!
If they were, I would hope they take influence from successful 1st person combat games like Vermintide, Avowed, Mount+Blade (to a lesser extent,) KCD, and so on. Not necessarily to directly ape the systems in those games (which are much more focused on being good combat games,) but instead to draw inspiration from sources that were successful at the task of making good combat in first person.
There are some features that are pretty standard these days; input-based blocking, one or two methods of attack (light/strong, standard/alternate, whatev,) enemies that incentivize or reward diverse usage of those tools, enemies that present strategic challenges beyond either shooting from a distances or swarming the player, etc., different reasons to use different weapons, or to specialize, etc., that would all be great things for/sings of, a good or in-depth combat system.
I think the main issues would probably come down to how they'd fit in an open world block game, how something like that would hold up in multiplayer, how the team would actually make and implement anything like that, and most importantly whether they even cared to, etc etc,
Combat is one of the harder things to make good in video games as far as I understand it, takes time and effort that I imagine people who were inspired primarily by minecraft might be less interested in than saaaay; another cool way to interface with the world visa vi crafting/building/gathering/etc!
To me it seems unlikely, anyway.
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edit: to be clear, as a blackguard player, I definitely definitely definitely wish they would/want them to make combat better!!! I just don't think they will.