Built on the same platform, but not really 'basically a Ford Focus'. Volvo did a very good job of making it their own IMHO.
I drove both variants before deciding to buy a Mk2*, and ran it for 3 years without fault - I sold it for what I paid, well into 6 figure mileage. The Mk1 is a very old car - it has lots of positives, but that former point is never far away from ones mind, particularly when as Drago indicates, the top's down and she's shimmying over the road surface. I enjoyed its ownership much more than I expected, perhaps because I had the best variant & combination (T5 auto in SE Lux trim in rather a fetching Dawn Blue) The same engine in the Mk1 is simply overwhelming for the poor old gal, IMHO!
VOC Forum's full of horror stories from those who've clearly bought badly and failed to maintain properly, but make neither of those two mistakes (not rocket science) and it's a lovely effortless cruiser that is capable of picking up its skirts if needed. Catastrophic fuel consumption, except at a steady cruise, mind.
Just a counterpoint from someone who has, as it were.
*And I really did want to buy a Mk1, trust me!