It's ok. The animation team killed it as usual. Lin Manuel Miranda did a pretty good job on the music, but it wasn't on par with some of other Disney Pixar musical soundtracks such as Coco, Frozen, and Tangled.
[Semi-spoilers but not explicitly]
Overall, what was really missing for me was the story...it was not satisfying. The character development for some of the individuals as well as the resolution for the character conflicts were sudden and unsatisfying. The ending felt abrupt/sudden. Whatever the hell the character arc for Isabela was supposed to be was a disaster. It doesn't live up to the hype.
On top of that the foundation of the story is just very weak. We are supposed to believe the town depends on the Madrigals' powers for everything but it's not really clear how this works for Isabela and the shape shifting dude. The family's relationship to the town is very underdeveloped. I really feel like Maribel and Bruno deserved more of an apology and that Abuela and Isabela hardly redeemed themselves at all.
I would say it is still worth watching for the animation, but it's not Pixar's best work by any measure.