This is easily one of the best games I've ever played. Papers, Please (which most of you will know is also made by Lucas Pope) was a pretty good game with a unique design, but this is on an entirely different level. This has a more serious tone to it and isn't a pseudo-parody.
The way it slowly reveals the story and encourages you to pay attention to every little detail is extremely satisfying. This is one of those games you have to go into blind to get the best experience. Things just keep escalating after what seems like a simple story. Sometimes if feels like you just get stuck but then you notice one little detail that leads to several different answers and new information. And in the end every single crew member has a story, and you have to know each one in order to identify them and get the "true" ending. It's like a classic text adventure game but interactive.
What really carries this game though is the art and sound design. It provides a powerful and rich atmosphere while the music gives you a sense of wonder and accomplishment. The music/sound queues with the watch are also great.
The only issue I can really see with this game is that it doesn't have much replay value. Since you know the full story already and there's no longer a mystery surrounding it that drives you to find answers. You might notice some new things playing a second time but nothing substantial. Only reason I played it a second time was to get the "Abandon Ship" and "The Captain Did It" achievements which are a joke.
I think this would work great as a series where you continue to play as the inspector going to different locations, since in the end you do keep the watch and there's a lot of possibilities for different adventures. I'd gladly buy a sequel or DLC to this game.