The Paradise is a great device with a different playstyle compared to other recent entries. In this version, you raise various Tamas in different "biomes" (land, sky, and water) as a researcher trying to discover all of them. This one is more based on breeding and raising new Tamas as opposed to bonding with and customising one Tama (like in the Uni). There are different minigames for raising happiness versus earning Gotchi points, and you can still play games to earn GP while your Tama is asleep! There are items to place in your Tama's environment for them to play with, and you can change your Tama's colour with certain items, too. For us busy adults (or kids in school), there is a Tama sitter you can leave your Tama with all day, and--unlike in the Uni--your Tama will not be sad upon pickup, lol.
Another fun feature of this device is the connection. As usual, you can connect with a friend, but you can also connect with the "Lab Tama" at a Bandai store (or another Japanese/toy store that tends to carry Tama stuff, e.g. Kinokuniya--check online for a fanmade map of participating locations). By connecting with this "Lab Tama", you can get exclusive items and breed with special characters. At these participating stores, you can also connect with a store employee's device to get more exclusive items. This content is expected to rotate seasonally. (There is a fanmade Lab Tama device in the works so that people who don't live near one of these stores can still get the content.)
P.S. Connecting with both other versions while your Tama is in the "young" stage unlocks a secret character particular to your version, e.g. you can get a dragon if you connect your Land with a Sky and a Water.
I got mine almost a month ago and haven't needed to change the batteries (two AAA) yet; consider buying rechargeable ones on Amazon. A screen protector is also a good idea since Tamagotchi screens scratch very easily. In the image below, I have swapped the shells of my devices for different colour combinations and put on screen protectors and cases.
This Tama is MUCH larger than the Uni and doesn't have wi-fi, but its playstyle is unique. I live fairly close to a Bandai store, so the pre-internet notion of having to go there to unlock some of the content appeals to me. It's a reason to go out, shop around, get some dinner, and maybe chat/connect with another Tama fan. Even though the accessibility for this is limited in the U.S., I have to say that it really elevates the experience. They are coming out with another Paradise version (with new characters and a biome that replaces the standard sky one) soon, too.
I know this item is already in extreme demand, and I'm not trying to make that problem worse (lol), but I have seen a lot of people asking if the Paradise is "worth it", so hopefully this helps. It is not the kind of device you sit on for hours in a row, but it is a massively upgraded reimagining of the virtual pets many of us grew up with.