The script and acting are good enough so far that they don't get in the way of the plot or visuals. We were expecting the entire first episode to be an extended tease of the mayhem to come, so were pleasantly surprised that it actually involved some action, though most of the episode was indeed setting up (interesting and diverse) back-stories.
It was also nice to see the plot dipping its toes into the social ramifications beyond the Purge franchise's usual standby of "people gonna die" or even "rich people gonna kill off the poor people." So it seems to be showing a lot more nuance and maturity than the two Purge movies I've seen so far.
I still think there's a good chance of this series becoming derivative and even tedious, but so far it looks good. I'm also somewhat dubious about making an entire series about a 12 hour event - I wasn't a huge fan of the 24 format. Though perhaps the season won't end when the purge does? For now I'm looking forward to watching the next episodes, finding out what happens to the main characters, and seeing how the social aspects develop.