As everyone has been saying, the show is beautiful, wonderful scenery, excellent use of CGI, nice costumes and sets. The musical score is on point too, works well.
The story overall so far is very 'meh' the main character Galadriel is unlikeble so far. Her character arc seems like it'll be straight forward as the first scene of the series is it: she knows what's best and if people just listened and stopped getting in her way they could stop the evil. I'm sure that Sauron will be in a position for Galadriel to end him at some point and Sauron will be saved by one of Galadriel's naysayers.
Gotta say, her jumping off the boat and swimming half way across the world back to middle earth is just stupid.
Elrond is unimpressive so far, just a weak willed 'politician' who toes the line for his bosses. Hope they have a good story for him down the road because so far it's not looking good. His offending Durin by not going to his wedding or seeing the birth of his two kids seems extremely uncharacteristic for a dwarf prince. It seems like they just wanted an excuse to have a dwarvish highland games event. I like how Khazad Dum looked but so far the representation of Dwarves seems childish.
The Arondir story so far seems dumb too. He's part of the elvish constabulary ruling over the humans that fought for morgoth. High command declares peace so everyone is pulled out but of course he knows better and stays behind. The human woman he's fallen in love with seems the only person in the village not covered in dirt and for some reason she leaves her kid behind to join Arondir on a recon of the next town. When she gets back home no one believes her that the town was destroyed but luckily she and her kid manage to behead the orc that happened to get into her home of course letting her plop the orc's head in the pub to quash any naysayers about there not being any danger from the next door village being wiped out. The whole village of sauron sympathizers/ collaborators will be interesting to watch but so far hasn't added any value and looks like they'll only be useful as the 'bad guys' that aren't cool with the human/elf love affair that will happen.
The harfoots are just irritating, a community of irish/caribbean back to nature hippies. I didn't like any of their scenes and am worried about much screen time they'll get. I imagine they're there for kid viewers, comic scenes, and merchandising. What meteor man turns out to be will be interesting but I'll be a bit irritated if he ends up being one of the wizards as this doesn't at all seem the way in which I or anyone else envisioned them going to middle earth.
As for the 'wokeness' yeah, like Hooahguy wrote it's not really much of an issue. That so far the only 'strong' leads seem to be woman is a bit irritating but was expected. The rainbow of ethnicities for casting isn't an issue though it doesn't really add value (Tolkien had people of color in middle earth they just weren't in "the West" but were the Southrons or Easterlings), it does help Amazon though as those of us that don't like it for other reasons can be called racists for not embracing it. I'm honestly more irritated by the dwarf women not having beards and the elvish men having short hair.
These first two episodes being so overall weak in a show that was always going to get heaps of criticism for veering even farther off course from Tolkien's work than the LOTR movies or the terrible Hobbit trilogy. I just can't believe they edited these two episodes this way, a much longer backdrop to the previous major events would have been useful such as the kin slaying, more about the war with morgoth, the sinking of beleriand, the creation of numeanor with it's first king being Elrond's brother who choose to be human rather than elf for example.
I'll keep watching it for now but it's not at all like the LOTR from twenty years ago. Two one hour episodes were almost a chore to watch instead of being drawn in and engaged in the story as right now we don't know what the story even is beyond that Orcs and Sauron are still out there and could have been defeated if other people didn't keep naysaying.