That wasn't as boring as I thought it would be, but yeah, I have no idea what's going on even after watching and it raises more questions than it does world building. It's a lot of posturing, re-introducing Draka, and then some obscure business about Maldraxxus, which seems to be one of the two more boring Covenants (guess the other one.)
I can see the good stuff will all be in Bastion and Revendreth.