I only just started, but for all my previous hesitation, so far I'm fairly pleased. It isn't comparable with the original movie trilogy, but as a show it's entertaining and hasn't put me off yet.
Some people asked if I had watched it before, and now I have, somewhat. Galadriel's characterization (and both actresses playing her) have carried the role well. It's nice to have a story where not everyone left alive is a smirking sociopath, but that's just my subjective preference there.
It may yet disappoint me, but so far so good. The halfling predecessors were my favorite worldbuilding feature so far.
I've only seen the first episode and it was kinda dull tbh. The elf characters felt off to me because of the overly formal stilted way they speak. I know that's what LOTR is about but it just kinda felt weird and I couldn't bring myself to care about any of them. Maybe it gets better but right now it's just kinda alright.
The show is very pretty though.
I agree that the characters sounded stilted (though I expected that with the elves in particular), though after so many years of Joss Whedoneseque "so... that just happened" quip slurry over here and canned "badass" Prestige TV edgy quotables-fit-for-edgelord-forum-signatures there, I felt it was weirdly refreshing by comparison.