I like it a bit better than Overwatch, in fact.
Overwatch has higher end graphics, and better animations, sounds, and better art, and more polish in general. But it’s a bit too much spam/kill friendly: you kill fast, you die fast, you respawn fast. Not a much as say, CoD, but enough for the gameplay to be bland-ish, imo. Paladins has a lower TTK, and a bit higher spawn time, this means more fun 1vs1 encounters when people avoid fire and beat the opponent, or gets to run away using an ability, etc. The idea of the horse to reach fast the action is pretty nifty, other games should copy it. In Overwatch there are a few times where the time walking to the point kill the otherwise good pace of the game.
The other differentiating factor is how the heroes work: in Overwatch they are pretty specialized, you can switch hero when you die, and in fact you are supposed to use that feature, switching as your team needs more defense or offense, or a healer or whatever. In fact I would say it’s the most novel gameplay feature of the game.
In Paladins the heroes are a bit more rounded, even if there four different roles, each one has 5 abilities (lmb, rmb, skill 1, skill 2, ult), while that isn’t the case always for Overwatch. The balance is also preferable, Ults for example are good abilities but not game changing, they can feel a bit too cheap in Overwatch, where they are like “go, do this huge damage in this area, and have 3-4 free kills”.
Customization is also an interesting factor, you can select some cards (at the start of the game) and boosting items (through the match) to change your style of play. There is nothing like that in Overwatch, heroes are more… static in their design.