Context is the key - good for some, not others
As for your elements of the song, I actually would have to say it's dependent on what context this is intended for. Is it meant as a BGM to a JRPG cutscene? A part of a film OST? And what kind of story is behind it? Or is this a stand-alone? For what I think this would be best suited for as it is, it reminds me a little of a less-scary and not as pessimistic version of the Wii game Fragile Dreams. It sounds...rural-ish, like the countryside (NOT country music, world o'difference), and it's like your walking down a dirt path pensively. If that's something like the image you were going for, it's going down the right path. If you were meaning something more mysterious and ethereal, I would suggest using less acoustic stuff like the drums and throwing in some more mystical synth (though not tech synth, unless you wanted a sci-fi taste). It's also the effects and voice choice; it also has that sort of lonely, homely tone to it, as well as a bit of modern from the type of FX you used. You could change that by either making it more distorted and in the background (more mysterious) or for more mystical, make it more...er, sparkly? Misty? Something playing with the higher frequencies I suppose.
No, I'm not a music major, so sorry if I don't make much sense, I just like listening to anime and game BGMs so I've heard a lot of 'em for different types of stories and atmospheres.