The first reviews are pretty uniformly bad at the moment, however The Verge (amongst others) seem to feel that Apple will just continually throw cash at this thing until it works.
I’m not convinced. Right now, if you’re going to pay for a streaming TV service, there is absolutely no reason to not go with Netflix. If you have extra cash to splash around, or even if you’re considering a switch based on content, then the next logical choice is going to be Disney+ so that you get Disney, Marvel, Star Wars, etc.
Even at a lower price, there really is no reason to go with Apple TV+ right now or even in the near future, in my opinion.
Part of me wonders if their long term goal is to build something that simply has enough content to the point where they combine it with Apple Music. Although Apple Music is objectively not as good as Spotify, it’s still somewhat popular and has built up a fairly decent set of subscribers over time. I can imagine a future whereby a bonus Apple TV+ subscription is simply an additional benefit of subscribing to Apple Music.