Will is clearly not made for the Shakespearean purists. It takes Will Shakespeare as a jumping off point, using the fact that so little of his personal biography is known to make him a blank canvas to draw on. To make it modern, surprising and unexpected. It most definitely requires suspension of disbelief on the viewers part, but if you can do that it is a very fun and engaging show at the very least. Think Romeo + Juliet or Farscape. If you could get on board with puppets in space and alien/human BDSM and find it enjoyable, this might be for you.
The trailer maybe doesn't quite capture the full vibrancy of the show, but it's the best I could find (short of vidding it myself, which is a distinctive possibility at this point.)
I think this would be very much up Shakespeare's ally if he was alive now. He had no qualms to borrow from other people's work and make it his own. He asked his audience to beliefe in Fairie Queens and cross-dressing woman going unnoticed. He took his lisence with historic fact to serve the plot. And he was an entertainer first and foremost.