Of all of Austen's books I've read, this one is lightest in tone and the most comedic. No one comes close to death or is disastrously spirited away. The closest thing to a tragedy is being snubbed at a dance.
I don't remember liking Emma as a character much at first, but she slowly won me over, and she has one of the more interesting arcs of any of Austen's characters. All Austen protagonists grow, but I think she arguably travels the farthest as a result of her comeuppance. One delivered as a result not of her own humiliation but because of words of reproach that make her aware of having hurt someone else.
I'm not sure ultimately what to make of her drifting away from Harriet Smith. I think in the end there's still plenty of social snobbery in Emma, and I'm not sure if Austen would in any case disapprove given the class roles of her time. (Although it does seem Mr Knightly, the hero of the tale has no problem having a mere farmer as a friend.)
Austen makes you wonder about her characters even after you close the book because she creates a whole community within Emma. And so many of the people within it, like the Eltons, are great comedic characters.
Like so many of Austen's novels, Emma isn't a museum piece but a truly fun read with delicious satiric touches.