Just returned from a stay here recently- my impressions:

Overall:
Very good hotel, but makes little errors that stops it from being a great hotel. The property is wonderful, as is the entire Mayakoba enclave. For those who desire a "stay on property" vacation, you won't find much better from Cancun to Tulum, though the Fairmont and certainly the Banyan Tree on property might provide a better overall experience (and a more costly one!). Part of my experience was a bit of a 'nickel and dime' trap, where little things got in the way of the overall experience being 5-star. More on this later. I will say that venturing into Playa for an evening was worth it, and I would have done it a time or two more had I done it earlier in the stay.

Check In:
I'm a Globalist but there was no Globalist recognition during the check in process, which was a little unrefined. This was slightly disappointing and not on par with other upscale Hyatt properties globally but I suspect this was due to our check in person being new and being slightly uncomfortable with English for most of our group, but even our communications in Spanish were not particularly welcoming. Only Globalist mention was to tell me where to get Breakfast at Cocina Milagro. The bellman and cart transportation was quite the well oiled machine. By the time we had finished check in (with a small popsicle and bottled water), our bags were on a cart and we were being whisked over to the beach side. There are always carts around which makes transportation a breeze.

Room:
We had a "Beach Area Suite" which was quite nice. The bed is very comfortable and the room is quite large (~800 sq ft I'd wager). We did not avail ourselves of our plunge pool on the patio; the pool was quite warm and there was some bugs constantly around. The snack bar in room is wonderful and keeps any peckish behaviors at bay! Not particularly luxurious and if I had to choose again I would have taken a Lagoon area room, as there is no view from the Beach Area suite. It looked like there was quite a lot of available rooms during our weekend so I'm a bit surprised at where the room ended up but a minor detail that wasn't at all concerning (nor is it Hyatt's responsibility to upgrade beyond the suite).

Food:
By far, the most disappointing part of the stay. We had food at four locations: Cocina Milagro, Casa Amate, Sotavento and Tinto del Pulpo.
-Overall, the breakfast at Casa Amate is quite good. If I did not get as part of the Globalist benefit I might have eaten elsewhere because after VAT + Tip the price is $45 for the buffet per person and I'm not a huge breakfast eater. But overall, food was quite tasty and got the day started right.
-Lunch was at Tinto Del Pulpo and I thought the food here was quite good. I had the Octopus Tacos more than one time and I thought they were delicious. Otherwise, standard fare.
-Sotavento had the best food, I thought, and certainly the best ambiance. I had a lobster dish on the beach and enjoyed it quite a lot but it was still a "very good" dish; not great. The drinks at Sotavento are not good and easily the weakest part of the meal. Considering their price, they should be a much higher quality.
- Casa Amate was such a disappointment. We enjoyed some happy hour drinks in their bar prior (5-6pm local) which were tremendous. An absolute opposite from Sotavento. Unfortunately, it was downhill from there. We had a number of different meals amongst our group, none of which left us with a desire for more. The mechanics of the service were trying to be 5*, but the food just didn't live up to it, and for the price, it was really, really poor. I would not eat here again.
- I did not try the Vegan bar but apparently the smoothies are quite good.

Pool/Beach:
- Didn't spend any time around Lagoon Pool due to mosquitos (they love me) but I thought the Beach Pool was great. The resort did a great job keeping the actual beach clear of Sargassum, so it was not an issue. Overall, this is clearly a focal point of the resort and they do a good job. The only particular room for improvement is that early in the day (before 1) there is limited pool side service, which isn't a big deal-- Tinto Del Pulpo is pool side and drinks are readily available! Service at the Beach is terrific and quick. They take great care of you.
- I will make one comment about the beach-- I seem to remember in years passed there were amenities like Kayaks and Paddleboards-- it seems like that is a Fairmont thing and they run that show. Getting one was going to be expensive and would take some time so prepare in advance. Overall, the ~40ish USD for an hour of paddleboarding is a bit much. So, just be prepared for there to be few, if any, "fun things" at the Beach.

Spa:
- Went for a massage- they have a nice weekly special that I thought was great. The massage was good, and the masseur was clearly skilled. The whole process of the thing is a bit much-- jumping from room to room waiting to actually get picked up, and then taken to another room....could maybe be done a little better. The facility itself is not particularly great (the hydrotherapy beforehand is really just a sauna, steamroom and hot tub in a relatively confined space that feels a lot like a gym locker room). The special made it reasonable on price.

Lastly-- the people are WONDERFUL. Everybody that worked there aside from the initial check in was effusive in both their level of welcoming and their helpfulness. I always enjoyed my morning chats with the cart guys and overall I can't say enough good things about the friendliness of everybody involved. It took what might have been just an expensive resort stay, and turned it into a positive experience.

Overall, it was a very good stay that with a little refinement and a little more focus around the little things could become a great stay. 8/10 and I'd consider visiting again.