They've got the vibe right, which is all that matters to me. Feels like middle earth.
I'm a casual in the lore, I have the silmarillion but i use it to just look up shit in the movies while theyre namedropping stuff i dont know the context of. So I can't really vouch for how well they've kept everything intact, but it seems solid from my light knowledge.
But, yeah, it's got the vibe and if you like the way middle earth feels then I recommend the show.
Was not expecting to like it, but here we are
Almost all of them that went there in the first place already have.
Elves are split into three types (and many subtypes). Light elves heard the call of the Valar in the dawn age and went to Valinor, Grey Elves heard it but stopped along the way (these are most of the elves you will see in the TV series). Dark Elves never listened and stayed vibing along what would become the Sea of Rhun (and in Tolkien's mythology, reside in our world to this day, faded but still able to give rise to stories of the Fair Folk.)
There's like 5% of the Noldor (the ones who came back from Valinor cause they were malding) left and of their leaders who went on the exile and haven't returned it's pretty much just Galadriel, Gil-Galad the High King (who arguably has a weaker claim than Galadriel), and Celebrimbor. Galadriel is able to return at any point, as she went over the northern ice and didn't take part in the Kinslaying.
Celeborn, Galadriel's husband (they've been married thousands of years at this point) is a Dark Elf I think. Cirdan the Shipwright is a Grey Elf of Teleri stock (though he is so old he predates the sundering of the elves and the original call to Valinor, making him at least 7500 years old by the time of lotr).
Elrond was born in Middle Earth, though he's Half-Noldor and Half-Human (of (at some remove) Beren and Luthien, the second of the famous Elf-Human tragic romances and directly of Earendil and Elwing the third tragic romance. This is why he doesn't want Arwen to marry Aragorn). His (long dead) brother choose humanity over Elfdom and founded Numenor.
So, The remaining Noldor are pretty much all absolute monarchs or otherwise near demi-gods and are Having a Good Time. Their subjects kind of want to go but are really happy to just stay awhile. And the Dark Elves won't want to go unless they sight the sea.
The Creation of the Rings, the Corruption and Fall of Numenor, and the Last Alliance are about to sour them on Middle Earth.