As mentioned in many reviews, the scope and scale of the production is what you would find for a large budget big screen movie instead of made for TV. The scenery is spectacular in quality given that it is a TV streaming series and should be enjoyed for its scope on the largest screen available.
The potential issue so far is the slow progress to almost lack of a direction for multiple plot paths/narratives being taken. There is some discrepancies with the source material vs their TV depiction (I.e. female dwarves without beards). The character development so far is mainly uni-dimensional. Given the vagueness of the appendixes used, there are many novel characters. These new and original characters both have not provided me with much empathy yet. The dialogue is better than “Lucas prequel Star Wars” but no where close to the dialogues that a word smith like Tolkien would pen. I am hoping that the writers are just trying to touch all the bases and introduce characters now and that a proper direction in the plot will form in later episodes.
The other issue that seems to be getting attention is that there is a far greater multi cultural vibe with the casting vs what has been previously depicted with Tolkien adaptations. Tolkien wrote and created the mythology and stories based on his culture- Northern European, so in turn characters are normally depicted as Caucasian (just like Greek gods should be depicted as being Greek). Seemingly, this has created issues for reviewers. Personally, the world is far more multi cultural today than it was when the hobbit was first penned so this should not be taken as an issue for the production.
Again, hopefully the story line/narrative catches up to the spectacular production value that the series so far depicts. It can become as grand as Peter Jackson’s take on LOTR or become something less than the Hobbit trilogy (high production value sets but poorer quality plot/character development.