I'm doing a second run through, after watching it for the first time last year. I really enjoy it. I'm glad I was unaware of it as a kid, because I would not have accepted it as a He-Man continuation. The only familiar characters are not recognizable in these new incarnations and the animation style looks more like Voltron than Masters of The Universe.
As an adult, I can appreciate that there is more than one version of every story, and many ways of telling those versions. With a little imagination, it isn't difficult to fit this into Filmation canon. Also, I personally really enjoy where Classics has taken NA, and that has filled in some gaps in the NA story, for me.
I've mentioned this before, but as far as I'm concerned, Caz grew up, took Sebrian's place, and this cartoon is his recounting of events. He doesn't get all of the events right because he didn't witness them all first-hand, and a lot of his memories are colored by his childhood hero-worship/obsession/crush on He-Man. In my canon, he is the leader of Primus in the SOH days.

I really like Caz. I think I'm in the minority. I do agree that he was a way "in" for younger viewers, and almost serves an Orko-like role. I like to think that if the story had gone back to Eternia in season 2, Caz would have stowed away and have had to grow up quickly and prove himself away from the paradise of Primus.
I do agree that it would have been nice too see a bit of diversity amongst the main characters. More non-human Galactic Guardians might have been nice. Even someone who wasn't white might have been helpful. I guess Nocturna was Primus' version of Asian, but he was also blonde, so...hmmm. lol. All of the mutants were pretty basic...just different colored, bi-pedal aliens whose gimmick had something to do with their armor. Aside from Optikk! Would have been great to see more "mutations" among the mutants!
As far as it being serialized, I love that part- but I do agree that more one-off episodes with unique villains would have been great! I also could have done with less of the Scientists, but I actually really like Gepple. There are a ton of characters I LOVE. Meliac is one of my top wants in figure form.
I know it is corny, but approaching the different cartoons as if they were told by different witnesses (well, really they were! Different writers!) makes a huge difference, IMO. Scrollos told the Filmation tales, an adult Caz recounted the heroics of He-Man in the Tri-Solar System. I don't know if that would work for anyone else, but it made me really LOVE New Adventures.