It's not fun to watch if you know Tolkien's works well (and even harder if you love them). It's understandable that Amazon didn't get the rights to many of the books, but the show changes the character of main characters and converges storylines from different points of the Middle Earth timeline on top of each other. Several of the different storylines aren't very logical either.
Overall, this show is really disappointing and could have been done much better. The main (only?) redeeming aspect are the visual backdrops/landscapes.