Like most pilots the first episode goes from random interaction to random interaction. Also, a few question marks in plot continuity. The first episode was held together by Colin Farrell's acting and character development. Probably, the only 5-star thing about the episode.
However, it definitely feels like it has room to grow. Farrell shines with a certain type of character and the Penguin is definitely that type of character. While I would stop short of saying it was amazing, it definitely had enough to hold you and pull you in for future episodes.