When is the first major scary part?

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(...)but without the combat and collecting loot, and the annoyance of having to stay in the light all the time, while ironically you need to be in the shadows to avoid monsters, conflicting interests?(...)

Well not being able to fight the monsters is kinda the point... it would be less scary/ another type of horror otherwise. And the conflicting interests are intentional too, they're there to make the game more interesting...

chase sequences where you can't see the monster chasing you

Without spoiling too much - you will get what you wished for. But all in all I'd say that Amnesia just might not be the right game for you, sorry People have different tastes in everything and it seems like another horror game might be better suited for yours. I'd suggest you keep playing until you've finished the level called "Storage" and if you still find it boring by that point there's no real point in playing any further.