Characters here feel quite bland, and I think I can already predict some "plot twists" down the line. Even though, at this point the story does not really know where it goes.
But let's start with the characters. They are completely uninteresting and villains are cliched. The latter part could be tolerable, if the main character was unique, but... She's not. It is obvious, that creators wanted to show "a strong woman", but not only did they go for a literal definition, but they make her strong only if a magic bug flies into her mouth. And there permanently, and takes a couple of seconds to get inside, too (which, actually, can be an interesting "flaw" of the power).
Problem is, Nell is completely average without that bug. There is nothing outstanding about her. And I am not saying she needs to be "special", but she needs to have some character. For some reason I was reminded about Aladdin while watching this, and Aladdin had character even before the lamp. He was not just a thief, but one with conscious, and desire to help others. It was shown pretty early in the story (and probably most adaptations, including Disney's). Nell, on the other hand, tries to act spunky and sometimes cocky even, but... Only because she felt a surge of power. Again, not a bad thing by itself (Spider-Man, anyone?), but she is not showing any level of humility, even though the times, in which the show is set kind of demand it.
Speaking of times: this show is promoted as "historical fiction". The "fiction" is a given, considering magical bugs (ok, inclusive fairies), but "historic"... It's supposed to be 18th century, England, right? Well, I was not entirely sure, so googled this: black men were in services and usually as slaves at the times. I am pretty sure, that I saw a few "nobles" in this show, who were black men. This alone means that this will not be historically accurate to the society of that time. Maybe beside clothes and (sometimes forced) "lower standing" of women.
But again, this can be more "fiction", than "historic", and it has good sounding pirate-like tunes, so maybe the story can somehow redeem itself? Yeah, unlikely. The bug seems to not even know, why he is protecting Nell, and I am pretty sure he is, actually, supposed to be protecting Roxy, cause that girl has the most character (and character development) than anyone. It will also turn out, that the black "nobleman" is part of some secret order, that has plotted all this in one way or another. But what's most obvious: Sofia, sister of "the villain" will rebel against her brother and join the good course, but then will also forgive him, because he was actually manipulated and hypnotized and all that.
So... I do not know. This is just... Uninspiring. It may be good for providing you some background noise, but other than that, I'd suggest to skip it.
