Well form the looks of it.
Fallout is better than rings of power... Though that isn't a hard bar to beat.
Looks a bit heavy on the Maguffin hunt, trying to tell two stories as well as push the shock value of gore on screen, while having a 'look it's fallout! See the references?!?'. It's more trying to convince you it's fallout rather than just being fallout.
I'm not sure if it would be better, where two or three episodes are dedicated to the nuclear event, the vaults, and vault life. Then an episode of the main character going off into the desert, do a 'castaway' feel where there's very little communication and it's very much survival as they go miles and miles of desert and their thoughts as they write in a journal; It's possible they have nothing to say and the audio is just the ambience of the world. That or have a dog to hang out with and keep your sanity. Then the 4th episode picks up where they start looking for clues for the maguffin or person needed for the key to their quest. Remember the first fallout game was you were a vault dweller, sent out to get parts to replace and fix a water purifier, not to save the world or anything big like that, then you had like 60-90 days before the vault would have died due to lack of water.
Then on say a 24 episode season, 1-3 episode arcs dealing with other people's problems, overcoming fear, learning the wasteland more, ghouls fighting as well as the intelligent ones, hacking and repairing machines and otherwise becoming a full fledged character. Maybe even finding love, or giving someone else closure of their lost love. There should actually be very little action overall unless they are under threat or having to invade somewhere to get something important.
Then the last 2 episodes of finding the maguffin/thing, closing off any plot points not needed for season 2, and getting home safe and sound.