I didn't care for it. I didn't watch it when it came out, but I did get the boxset for Christmas (for some reason).
It had terrible CGI graphics, and the writing was terrible and expositional, and it felt like it had a pomposity about it being a living, existing universe rather than being something like Star Wars, where you were told why everything was and it did feel like an actual expansive reality beyond what you were seeing. It felt like how a 17 year old who is really interested in Science Fiction would write a story in his early attempt to become a writer.
I'm not even a fan of Deep Space 9 all that much; I feel like it's a post-modern comment on Star Trek rather than a Star Trek series, and it decimates Roddenberry's intent of Utopia. But DS9 is much better than Babylon 5, and was more successful in what Babylon 5 was trying to accomplish than B5 was. And I know that will rustle some feathers because DS9 was probably the biggest reason Babylon 5 was cancelled, but it is the truth.