Nah, the crucial story arc made no sense.
You have Galadriel who had spent years, I think possibly decades tracking down Sauron. Only to be forced to give up that mission, to then jump off the boat to her 'heaven' and swim away to then meet up with the enemy she'd been sinking on a boat. That then got eaten by a sea monster for him to rescue her? (Why was he even on the boat in the first place). To then go to Numenor to become a blacksmith to then give that up because Galadriel asked him to go back... To then go back to Middle Earth to fight a battle against his own creations. To be wounded so badly it needed specialised medicine so therefore got sent to the elves whereby after being healed managed to persuade the famed and ingenious Elven blacksmith to try a very obvious blacksmithing technique so he could create a bunch of rings on the fly and create the master ring.
Its a load of shite. It makes everyone seem so incompetent, including Sauron himself. We as viewers never understood his motives either, did he always intend on forging the rings and this was his plan to gain access to the Elves? Did he actually want to be good and then got tempted back to the dark side? None of it was made clear. If your main bad guy needs a whole host of lucky encounters to achieve his goal you know the plot is a load of crap. Its what pissed me off the most, the Sauron/Galadriel arc which is the most important part of the show was so badly written.