Is this game worth playing?

Pic related, obviously.

Yes

Could you explain?

Recommend you play 1 on the PS2 first. The series just got worse with each subsequent release.

It's hardlocked at 30 fps.

If you wanted longer posts don't ask a yes or no question.
Just fucking play it.

...

Meanwhile, WotS1 runs at 60fps on the PS2.

Does it really? When I got into emulation I found out that most PS2 games actually run at 30 fps, leaving in-between frame smoothing to interlacing.
But some run at legit 60 like Tekken 5 or Raidou Kuzunoha.
If WOTS1 actually runs at 60, then OP is indeed better be off playing that.
I"m autistic about muh framerates

If you enjoy a short silly eastern game with a fuckton of replayability and depth in its weapons, styles of combat and character customization, then you'll like this game. The story in this game is ok but it doesn't take itself seriously like other games in the series. I had a lot of fun with it.