As a direct continuation of the original series, it hits the mark. Same sort of story, same sort of style.
Whether that is a good or a bad thing is up to you, but if you like the original series, you'll like this, and if you hated it, you'll hate this.
Personally, I think it did well by doing a character-oriented and fundamentally optimistic story. Far, far too much science fiction these days is depressing - grimdark futures, endless dystopias, and a constant cycle of getting darker and edgier. It avoided both that, and the second persistant flaw, overly raised stakes - at worst, the Enterprise was in danger, but never more, and rarely even that. While this continuation failed to correct the third major flaw I see in modern scifi - the use of pseudoscience and handwaved technology as magic, failing to try to actually predict or speculate where existing science and technology are taking us - it did so in devotion to the original series. It would not have been Star Trek without the often unscientific plots.
That is really the only failure of this attempt. They tried to exactly continue Trek, instead of trying to improve upon it. I'm pretty sure they spent quite a bit of time trying to get the CGI Enterprise to look like a plastic model, making the lighting look like an old TV show. Hell, they even cut to commercial breaks, even used 4:3 instead of 16:9. The only signs this was made in 2013 instead of 1973 are the occasional nods to The Next Generation.
Perhaps expecting them to try to do *better* than Star Trek isn't realistic. Maybe they decided nostalgia was better than some marginal technical improvements. I don't know.
I'm legitimately impressed with everything else. By fan-vid standards, this was amazing. It was even entertaining as a work on its own. I'll probably watch the next episode, if they make one. I just feel like there's still a void out there that needs filling - a piece of optimistic science fiction that actually cares for the science in its own right.
Someone's probably going to tell me that if I want something like that, I should write it myself. Maybe I will.