OMG OMG, amazing. No matter what I say, it will never be enough praise.
The first 2 episodes set the scene from The Similarian.
It did not shown how each race came about and the birth of the 'known world' but arguably it is best not as this could have easily confused and complicated the narrative. If anyone has read The Silmarillion you will get my meaning.
So excited for the rest of the series (does it show)