We watched the first two. I really like it. Galadriel and Elrond both seem like strong characters and well acted. My wife struggled with the first one as it is all set up and it made her tired. Probably helps that I recognize a lot of the names (though some I do not, and may be new creations).
I remember feeling emotionally exhausted near the end of Fellowship of the Ring and just wanting the movie to end already, watching it for the first time in the theater. We tend to forget such things after time, as things grow on us. Another example is that some people who bitterly hated the Star Wars prequels are suddenly fans of them after the sequel trilogy and claiming they never hated the prequels at all.
Time will tell if this series endures the test of time the way Peter Jackson's Lord of the Rings has and his Hobbit movies have not.
A lot of people have panned the show by saying "it isn't Tolkien". Well, it is the very first totally-original unadapted work taking place in Tolkien's world that we have ever had. Comparing it to an adapted work like Peter Jackson's trilogy is a bit unfair. It will feel "wrong" to some people no matter what. This is unavoidable. The Hobbit and the Lord of the Rings are the only novels Tolkien's world. Making something that takes places at another point in time in Tolkien's world means taking liberties with some things because there is nothing concrete to base it on. (The Silmarillion is more like an encyclopedic collection of very short stories than a novel, and the Amazon producers didn't have the rights to it anyway)
I did like these shows much more than I was expecting to. I thought the second episode was much better than the first, and my interested increased a lot when Celebrimbor was introduced much earlier than I was expecting. I thought the trolls in this show look more like trolls than the hobbits or trolls in Peter's Jackson's movies. (The is my biggest beef with his movies, the hobbits and trolls look just like little humans, which they are not supposed to be) I had no problem with the female trolls not having beards, Tolkien himself was very, very wishy-washy on whether female trolls had beards.
I don't think "meteor man" is Sauron, and I hope he isn't Gandolf.