It is readable but not that amazing. They're at least five better RWBY fanfics on this site that I know of and update regularly.
Writing Quality is amazing, so there is no problem there.
Stability of updates, I just gave it a four because...
Story Development is shitty because there is no change from cannon, exactly the same. The Author is probably a first-time author that watch the show and wrote everything word for word since all first-time fanfic authors do that. The Author will eventually grow, but as of now, no development.
Character Design is irritating but bearable. He is supposed to be a reincarnated Sayan but takes the RWBY world as a joke. No seriousness whatsoever. Just a normal dude, who became a Sayan for two seconds, got transported to the RWBY UNiverse, and suddenly has all his shit figured out because he is just 'miraculously' better than everyone else in his head.
World Background - none, because everything is the same as cannon. I can change this review if the novel improves.