First of all, this is a side-story "alternate universe" type of deal. Many of the characters and plot points are the same, but not all, and after a few episodes the show takes an obvious and abrupt turn into uncharted territory, for better or worse. If you were aware of the Japanese dub of the original RWBY, and came here thinking that you were getting a complete anime style adaptation of RWBY in the same way One-Punch Man did, I'm sorry to say that this ain't it.
Now getting to whether this is enjoyable as a fan of the original, it absolutely is. Some of the fights and scenes match up perfectly with the original, so it's pretty awesome seeing a scene that looked like PS2 graphics getting cranked up to modern animation, and although I'm no critic I will say it's pretty good. The sound and OST are very well done as well, and the voice actors more or less do the job they were assigned, which is asking a lot since they are adapting an English script with very western teenager tones.
And that's a good segue to the real problem with this adaptation. Anime is pretty versatile, and has adapted many western stories into some extremely successful ventures. The difference here is that those stories were mostly classics, and adapted by people that wanted to give new life to the original work. This on the other hand, feels like a half-baked spinoff made either to capitalize on a franchise that is peaking, or just so we can say that it exists and RWBY is officially an anime now. Either way it's not worth watching if you're not a fan of the original.
