Having watching the show as a kid in the 80's, this does remind me of the original material. But He-Man and Skeletor are not the focus of the show. Parts of the show remind the audience of tropes and common elements of good vs evil with He-Man fighting Skeletor and failing again and again, (through flashbacks). This show gives the other characters more of a story. And that's not a bad thing.
A lot of people were under the impression including myself, that from the trailer that there would be more He-Man and Skeletor. It feels like a bait and switch. But I'm liking the story a lot better then the usual formula of a 80's villan of the week. Kevin Smith did a great job of writing the story and am hopeful to see part 2.
Ignore the die hard fans who don't want change to the source material and try to watch it with an open mind.