From the perspective of an F1 fan, its been great, lots of really good races so far, no-one dominating every race (like the first half of last year), lots of up and down performances from the main contenders. It’s been nice to see a few promising rookies like Petrov, Kobayashi and Hulkenberg as well.
From the perspective of a Ferrari fan, a disaster- the only two races won by them were universally panned for being dull or for farcical team orders. Plus Alonso (who I never wanted in the team over Raikkonen) has made too many mistakes, and Massa likely won’t win a race this year.
So overall, good entertaainment and enough to make the people thinking F1 was dead after Bahrain look foolish.