I haven't played in Midgard, but i own most of the books and love the setting hugely.
It's got a lot of depth of setting and culture, but nothing comparable to the sheer volume of Realmslore that's out there. It will reward players who enjoy immersing themselves in the lore of a setting.
As you say, it's very real-world analogous, but also, its regions vary strongly in class, race, deity composition. Nothing like as freewheeling or kitchen-sink as FR or Eberron. It's strongly nation-driven as opposed to FR which is more often city-states or semi-independent villages with lots of nebulous wilderness between. You'll need to lay out expectations. There'd be in-setting difficulties in playing a dragonborn in the Seven Cities or Nuria Natal regions, in some places dwarves are hated and feared as slavers, a cleric of Anu-Akhma would be respected in Nuria Natal but despised in the areas threatened by the Ghoul Imperium, druids would probably not be very welcome in Kush, and so on and so on. And gnomes are just
the worst...
Upside - there's space here for basically any sort of game you want to play. Postapocalyptic? Wasted West. Political/religious intrigue? Seven Cities. Epic stand against the looming new darkness? Spend some time fighting the Ghoul Imperium or the Dragon Empire. Dungeon crawling? Elven ruins, Nuria Natal. Urban campaigning? Zobeck, or Per-Bastet. And the various ley line and shadow road methods of long-distance magical travel means that you'll actually be able to see the different parts of the campaign world without having to wait until high-level travel magic shows up.
The treatment of gods can be a plus or a minus depending on taste. Most regions have a pantheon of around 6-10 gods who they generally worship, but gods have 'masks' which are basically alternate identities that they assume in different pantheons. So the beer goddess of the not-Vikings is widely assumed to be a mask of the beer goddess of not-Egypt (or vice versa), but there's a lot of debate and friction about which war gods are or aren't masks of each other - and the gods aren't telling.
The books are stunningly gorgeous, though they do give away some of the big setting secrets in the campaign setting books, so be aware of that. There's a LOT of game material, subclasses, races, spells etc. It can sometimes be a bit underpowered or unclear, check it if you're going to use it. There's also a zillion feat-based magic subsystems - heiroglyphic magic, ring magic, chaos magic etc etc etc but you don't have to dive into that if you don't want to.
There is indeed a beer domain, though i think it's remiss of
@Zardnaar to not also post the Ale-dritch blast cantrip, which soaks the target in icy beer for cold damage and possible intoxication for a round...
