So far, at least in Japan, Final Fantasy Type-0 is supposed to be really good, and it’s not a big surprise that the game launches on two discs. If this is a game that is sticking to Final Fantasy tradition, it’s massive length may require it multiple UMDs.
But, interestingly enough, The first disc is just the beginning… and the ending.
The first disc is apparently the “Prologue”, the second disc being the middle and then the first disc again to finish off the game.
This may or may not have to do with the game’s multiplayer code only appearing on the second disc. Either way, it probably won’t prove to be any actual downgrade to the game.