It is well done and sets the stage for the next pieces of this great story.
Critics my thin it was repetitive and slow, with action bits but they aren’t thinking about the bigger picture here. This is the prequel to all the “Lord of the Rings” films. You need to look at this like you didn’t see the other movies.
I enjoyed this first part to the story.
That being said, you should forget the LotR and get familiar with the Hobbit, fresh and new.