Lack of Owen Wilson really hurt. Hiddleston so much better sparring with him than an actress who feels better suited to a USA Network show. (I watched the hell our of Burn Notice and Graceland, but you don't see those leads in movies).
Way too much of the episode given to fights with faceless, nameless jobbers. A quick fight to establish a character is a bad-ass is fine, but there's no narrative tension in watching 5 minutes of the main characters cut through NPC guards like a video game with zero sense of danger.
I don't know why StageCraft works so well for Mando, but it failed for me here. Horrible CGI all around--like the acting, took away my suspension of disbelief and felt like I was watching an old episode of Xena.
Finally, the one big plot reveal is the perfect example of why they say "show don't tell." How much better than could have been with a last-second ending where Owen Wilson visually reveals himself as a variant Loki/Fury/whomever. Instead, it's lazy exposition.
Cautiously optimistic for Owens' return, but as of right now, seeing an MCU show pattern of amazing first acts that fizzle out later on.