Love it. Most of the characters have a lived in, world weary quality to them that makes them super relatable. It really balances well the sweet and tender with more dark and grim stuff. The vibe is akin to old school youngster fantasy like Princess Bride, Never Ending Story, Labyrinth, Time Bandits.
The art direction is impeccable. The colours and textures, the models, those little details like the orange bloom of a dress, or Galadriel's frazzled hair. Shit is sumptuous.
This episode felt slightly tangential but I liked this new city's mythos, particularly the detail about the Elvish remnants strewn throughout. It brought to mind Victor Hugo writing on Gothic architecture. I didn't quite understand the mining colony bit but the desolation was palpable. I still think the harfeet are a charming bunch.
The pissy pants Tolkienistas are right that this isn't faithful to the books, because it's not just a bunch of racist wankers trudging to a mountain to chuck a ring in some fire, or a bunch of racist wankers trudging to a mountain to rob a dragon. The Rings of Power universe feels more expansive, diverse, adventurous and fun. Go and cry.