I am very OK with the storytelling of the ending, it leaves Cloud more broken than he was in the OG and sets up the REAL heart of the story which was always his life stream scenes.
I think it will actually correct a misstep that the OG took; which has us snowboarding like 10 minutes after Aerith dies. I think part III will open up dark as fukk and continue the Cloud degradation the way it should.
As for Aerith, IF it's really her life stream self trying to save Cloud.... that's in line with the OG and especially the movie - where we see both her and Zack actively trying to save Cloud during his depression.
I think they missed their mark with the gauntlet, that just went on too long and by the time you get to the third or fourth fight you forgot that Aerith just got stabbed up.
They should've just had one Jenova and ONE Sephiroth fight. The gang fights Jenova once and Cloud/Zack/Aerith fight Sephiroth once.