Just few things that I really don't like about Terraria, which usually cause me to stop playing after I spend sometime with the game
1) The difference between game play when you first start and when you get up there with gear and equipment. Basically when you just start with new world and new character, its slower pace survival exploration game, but as you keep playing it just becomes crazy @$$ action platformer.
I get it, it is the point of the game to build up your character and make player feel stronger, but I just don't like how it basically becomes a different game.
2) Majority of the items in the game are worthless, or become worthless as you progress through the game. At this point its just the spirit of Terraria, it has bunch of items which are poor even from the start and that's just what they are, you either collect them because that's what you do, or you just don't care about them and ignore them. But either way I just feel like a lot of efforts of artists and the programmers go to waste by creating so many items that are not interesting or useful.
I would rather be fine with having few but well thought out and useful items, that you might keep upgrading and keep useful through out your progress, than having dozens of items with very similar functions, with just few actually useful ones and which are only useful of certain time before you get better one.
Also I hate how so many resources like metals lose their value too. I always wondered why not use lower grade resources in high tier crafting. Make player use up stacks and stacks of copper, iron, gold, silver, all sorts of gems and stuff to craft top tier gear, because why not? You end up with so much extra metals that do nothing, that it only would make sense to through them in the mix of crafting stuff later in the game.
3) Potions that last only few minutes in a game that you spend hours playing. Not really a big deal to me as I simply end up not using potions majority of the time, but I wish they would make potions bigger part of the game, make you HAVE to want to get all those buffs, make the recipes for potions long and elaborate with many ingredients, BUT make the buffs last for like an hour if not more. Maybe add whole new purity system for the potions where depending on the amount and quality of ingredients that player uses potions can have different strength and buff longevity. So I could either quickly make potion with mediocre effects that lasts 15 minutes, or if I really put a lot of effort I could make potion with awesome buff that lasts two hours.
Like seriously, considering how many potions there are in the game, I am really surprised we don't have a better alchemy system by now. It really would come down to adjusting a lot of numbers, but no real additional effects or extreme elaborate or complicated coding should be required to add something like that.
That's about it though, those three things get me about every time, basically once I get close and closer to the end game I look at stacks of worthless stuff sitting in my chests or scattered around my world and look at my character approaching status of the living god, and the game gets boring pretty quick from that point on.