Watched the first episode.
It's bad. Not even "it's so bad it's good". It's just not entertaining to watch. Almost all of the characters are unlikeable, either being boring as doorknobs or being actively unpleasant. The only characters I didn't dislike were the hobbit girl and the black elf archer, and even then they're not likeable, just not aggravating like the others. Dialogue is bad and there were at least a couple instances of extremely juvenile exchanges. I certainly wouldn't expect noble elves to be casually making light of human-elf relationships, or a guy literally saying "your mom cut herself, didn't she? Haha that's probably why your dad left" (I'm not joking this literally happened).
The show looks visually unappealing. The costumes either look like the artists didn't even try, or look like cheap cosplays. There are compositing problems and the CGI monsters are weightless. Also, outside of the scenes that take place at Lindon, the show has this grey desaturated look. There are also disconcerting extreme close up shots, and the camera can never seem to sit still for more than 2 or 3 seconds. In some cases there were shots that lasted barely half a second and it very disorienting. Also, the music is forgettable.
It was an hour long episode and nothing happened except a guy falling out of the sky at the end, presumably a Maia. Won't watch anymore. They had an hour to get me to care about any of the characters or interested in the plot, or even hook me with the promise of spectacle, and failed. Why bother watching this show when I could go to Youtube and watch an episode of Bonanza that has entertaining characters and tells a compelling story from beginning to end in 45 minutes? Also that show actually looks good with the colors and set design and decent cinematography.
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What boggles my mind is that this is a $700 million show. This is like, the most expensive show in the history ever, since Game of Thrones. You'd think that there would be top of the line talent on this show. Good cinematographers. Good actors. Writers who would make the dialogue not cringe. The best costume designers. The best in the CGI industry. Good musicians. Where did the money go?
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If you compare this to House of the Dragon, that show at least didn't have most of its cast being unlikeable. At least the sets looked pretty decent (even if I wished they were better lit). At least the compositing of the backgrounds was good enough. At least the dialogue wasn't embarrassing. At least some of the costumes looked good (even if they don't come through because of the color grading that sucked the colors out of everything). At least there was some stuff that was vaguely interesting in the first episode like the king's hopes and dreams being shattered. Music was trash in both, though. Seriously, why can't Hollywood hire decent musicians?