I watched the show with two other people, of very different interests and ages. We all enjoyed it immensely.
- The sets, costumes, and cinematography are fantastic and at times breath-taking. The level of detail in the costumes is amazing, and I can't really imagine them being better. - The acting is first-rate. IMO it's better overall than the acting in LoTR, or at least as good, and better than in most shows you'll watch. I did not see an actor that was not all-in for their role, and the many accents are beautifully done. This is the most important quality of any show for me. - The language in the script is elevated, and there are some beautiful lines. Scenes are allowed to develop, without the need for the rapid cuts many shows feature/rely on. - Plot is fine! I have not seen where it will go yet, but there are some big plot points, and subtle tensions developing. I had no problem here.
I love LoTR, but am not a dedicated Tolkien fan with rules about how things must be. I am fine with spin-offs, re-imaginings, alternate worlds, whatever! IMO the goal here is to entertain, to capture the imagination, and to do work that shows dedication to the craft and I think the show easily succeeds in all of those. I would probably watch a full season just for the production value alone.
Also, the whole race thing: What? To me it's a complete red herring and everyone in the show belongs there. This is not just gate-keeping, but racism plain and simple. If countering that racism is your only reason to watch the show, that's a good enough reason.