Indeed, we are both similar in that regard
It's not so much that EB isn't considered as highly, it's more the fact that Working Designs pumped out a ton of remakes and different versions in the West, while Game Arts remade it like 3 times or something, whereas EB just got the 1 remake (more of a, "before HD, HD remake," where both came out on the Saturn and in the West, on the PSX). So due to more exposure, people know of SS a lot more and as a result, it is more-beloved.
But again, definitely not the better game. At all lol. While the overall games aren't alike, the progression from SS to EB, I find similar to the progression from PSII to PSIV; many things are the same, but A TON was improved for the sequel.
Also, as we've seen in Yakuza 2, No Time to Die and in other media, people like love stories and they'll like a story more if there is a love interest/angle to it.
Now, while Y2 and NTtD had a love story shoehorned in that didn't fit with things, the love angle absolutely DOES work with the Lunar series' plot (through all games, actually), however SS's story is driven by love and is the more, "classic," love story (speaking purely from writing and plot conventions/devices used. And no, this isn't a spoiler, trust me
), whereas EB also has a love story, but it is a bit more-unconventional and it only concludes in the epilogue, which CAN take an extra 3-5 hours to complete and is after the main story is done, so many gamers just didn't bother with it (SS doesn't have an epilogue). Personally and it may just be my tastes (so subjective), I find the payoff in EB *SIGNIFICANTLY-BETTER* than in SS, when it comes to tying up the loose ends with the love angle.
The world is just built up so well though, the callbacks/forwards (less of the forwards lol) are beyond-excellent and if you add Walking/Magic school (on the GG and Saturn, respectively) to that, which is a prequel (Saturn version is essentially a {MASSIVE} expansion on the GG game), then the world and its origins are built up even more and it makes it even more-awesome.
Just an overall great series.
As for Vay, the combat is not bad, but there is a fair-amount of grinding that needs to be done to progress anywhere in the game (not as much as PSII, mind you) so that's the only real detractor. The plot is an excellent Sci-Fi plot and the characters are written excellently. Graphics and visuals are also pretty good for its time.
Sorry for the essay!