It’s a loose translation. I’m opposed to the principle of dynamic equivalence translations/interpretations/paraphrases in general (yes, I know, even the KJV is a dynamic translation, but I’m speaking of loose translations that are considered dynamic in comparison to others) but specific renderings may be superior. Genesis 1:1-2 in the NEB is pure heresy, just like in the NAB - it translates, “In the beginning when God created…a mighty wind was over the waters”, which is wrong philologically and theologically. This will miscolor the entire reading of the Bible from that point on, blows the cosmological argument’s connection to Scripture out of the water, removes the first foreshadowing of the Trinity and the “two hands of the Father”, and obscures the remaking of the world in John 1.
On reading the Bible for the first time, it’s important to have a good translation that follows proper exegetical standards and is somewhat literal, for then one begins to see the interconnections and intertextuality as an integral part of the story itself, instead of an add-on or neat soundbites.
Even the much-favored today amongst conservatives (which was considered so liberal as to be blasphemous when it was released RSV), even in the newest emended Catholic editions, still introduce errors in Psalm 2, a major error in Psalm 16, and major errors in the “seed promises” in Genesis (“in your seed shall all the nations of the earth be blessed”) by changing it to “all of the nations of the earth shall bless themselves by your descendants”, eliminating any possible prophetic interpretation. Bibles that are translated in such a way as to state that the New Testament authors - that is, the Holy Spirit - were wrong in their interpretation of the Old Testament are plainly heretical (such as those that translate Is 7:14 “young woman”, for the famous example).
The DRC, KJV, OSB, NKJV, ESV, and NASB are the best at this - not obscuring prophecy. The NETS is alright in this regard, better than many modern Catholic translations, but, still, in order to please the Jews that collaborated in the project, some prophecies are obscured and poor renderings (“divine wind”) are chosen. Overall, though, it’s a work of the first rate.
The best “dynamic translation” is definitely the Ronald Knox Bible. It’s easy to read, has good English style, etc. while remaining faithful to 2000 years of Catholicism and Christianity, and the Holy Spirit himself.
The ESV, even though it is strongly adherent to the Masoretic (medieval Jewish) text, has an excellent Old Testament, although several NT renderings are dubious-bordering-on-wrong. The NASB NT is a bit better, but I still wouldn’t use it as a first choice, as the few interpretive decisions that are made are in favor of a “grace alone through faith alone” theology, although not nearly as bad as the dreadful NIV.
The NAB/RE is one of the, if not the, worst of all. The various modern Catholic editions (JB, NJB, RSV) all fall towards the bottom end of the ranking. The RSV-2CE restores a few prophecies, and is the best of the crop of Bibles widely used amongst non-traditional Catholics (who almost always use the superior DRC). There seems to be a problem with “proof text Bibles” like this, where they change Is 7:14 to “virgin” and Lk 1:28 to “full of grace” and call it a “faithful Christian Bible”, while leaving the rest of the OT in dreadful shape, because it seems those two verses are used as the main “litmus test” - the publishers adapt quickly (although in some cases, such as the NRSV, NJB, and NABRE, the translators’ unapologetic allegiance to hyper-skeptical modernism and complete ignorance of the Christian tradition and disowning of the NT authors’ exegesis is flown like a Jolly Roger on a sailboat).
However, in one case, the NEB does bring out the meaning of the Greek much more perfectly than any other translation, and should be adopted: “In the beginning was the Word, and the Word was with God, and everything God was, the Word was”, which expresses the sense of the Greek much better than “and the Word was God”, also removing what can seem to be a contradiction in the process (the NAB - not NEB - is “emended” in several places with the verse-order switched around to introduce contradictions that aren’t actually in the text in service of documentary presuppositions, cf the story of Joseph in the NAB and NABRE) . It shows the differentiation in person but not in essence, and closes the door on Monarchic, Sabellian, Unitarian, Modalist and Arian interpretations of the passage (although Proverbs 8:22 seems to remain the weapon of choice for modern Arians, who one and all are proof-texters like the Jehovah’s Witnesses, instead of hyper-rationalists like Arius himself).
Thus, the NEB is an excellent third or fourth Bible to be used to compare verses, or to read, after one has already read, connected, and understood the Bible, but not as a first- or second-line Bible (which should be a modern translation that isn’t completely marred by bowing to Jewish interpretation of the OT and a DRC).
In any case, it seems that some terms (hypostasis, energion, etc.; theological terms) should be transliterated and not translated, and people would end with a better understanding of Scripture and of theology, and misunderstanding could be avoided.