The saying of if they should rings a bell Look, just because you can make something doesn't mean you should do it.
This fails basically in everything minus the VFX. I was going to say visual, but the world doesn't scream "Tolkein". Even the way they talk just sounds off and of a fantasy world.
In terms of the characters, basically 90% of the cast I dislike nor care about, it's very hard to get attached to anyone. Also I do not like how this show weaponizes "memmerberries". Like, remember the superior LotR movies? Well lets link the show, but not in a narrative sense but "there is a wizard, hes probably Gandalf, but we cant say".
Also this show from the get go was doomed to fail, as adapting something and referencing things you don't have rights to is flawed thinking. Somehow get Peter Jackson involved and start again.
Overall Id say this is a blip and will be forgotten 10 years from now, and only serve as a warning, nothing more.