Does it stop feeling grindy?

Hello! Loving the world of the game, but so far (~6 hours in) it feels quite grindy.

1. Explore new area

2. Kill all enemies

3. Loot everything

4. When at capacity, fast travel to town, sell, upgrade and level

5. Repeat

Don't get me wrong... I know that's the main Scrollslike loop... but so far this seems to be the ONLY loop in this game and that's getting repetitive.