Babylon 5’s special effects are primitive now, but one thing that sets them apart is that they’re fairly thoughtful. Compare it to star trek of a similar time period - they had double or more the budget, so their space battles and such were more polished… but star trek battles are nonsense. They are not well choreographed at all. The manuevers the ships make make no sense given their capabilities. And of course they act like they’re naval ships fighting in water, or airplanes fighting in air depending on the scene - sort of like star wars. None of them actually functioned like space ships.
In comparison, Babylon 5 put a lot of thought into the special effects. Species that did not have some sort of artificial gravity based drives like the Earth forces used thrusters and reaction engines that worked in a way that you would expect space to work. Inertia was a thing. They were in space, not on the water or in the air. Other species had artificial gravity and based their propulsion on it, but then, too, their designs make sense for their capabilities. They had a mix of things like missiles, point defense systems, energy beam weapons, fighters and fighter carriers, etc. There are fights that take place beyond visual range.
Really, you don’t get space sci-fi on TV that cares about how it presents itself and isn’t total nonsense again until The Expanse. So I enjoyed it, even though it was technically primitive, because it actually makes sense in a way very little sci-fi on TV does.
As for the show - you have to patience when you go through it. It is unique in that it is essentially the story and depth of a novel that the showrunner made up and then tried to translate to a five year show. At the time, that sort of continuity was unheard of, and today it’s still pretty rare. Knowing where he was going, there are moments in the pilot episode that pay off after 4 or 5 years. The story is extremely ambitious and does succeed and pays off a lot.
On the other hand, the writing and dialogue can be sort of … theatrical, unrealistic. The acting ranges from fantastic to pretty bad. A lot of the season one episodes that were more standalone episodes before the continuing story dominated the show are quite bad, like, star trek TNG season 1 type bad, and a lot of them are stacked right at the beginning of the show’s run, so you have to be patient to work through them before things start to get going.
But if you can forgive all that, it’s pretty much the most ambitious TV show ever made in terms of telling a long form story and was remarkable for its time. Really, I think it was pioneering and paved the way for a lot of TV shows that have a continuing storyline rather than hitting the reset button at the end of every episode.