Fun adaptation of the events before LotR.
Criticism first: The start is too abrupt. It one is going to do the Silmarilion, one should start with the basic cosmology, the Silmarils, Morgoth, and the war. Even if done briefly, it could have added context, instead of almost immediately throwing us into an action scene, a battle with thousands of elves dead. It was lacking in real context, and made the start a bit too much of an action-flick.
I understand that changes had to be made to make Galadriel an action hero, bucking the system of elvish power. It grated some. The "structure of Elvish power" didn't ring true. Not sure making Elrond an ethically questionable spin doctor and fixer was appropriate, either. Third point, having Galadriel swim back from Valinor seemed really dubious.
That said, it was beautiful. It was lovely in many ways to be brought back to the world of Tolkien. The acting from some of the leads was also nice, particularly the interaction between Alinor and Bridget, and between Durin and Disa (who was fabulous). A solid 4/5, so much better so far than most of the stuff on film