This show is "based" on a real happening. That does not mean that everything in the show actually happened, only that an historical event was the starting point. This is entertainment so there is going to be some dramatic leeway but there are also actual events present in the show.
I am a huge Sherlock Holmes fan but the title tells you that this is about his inventor, not Holmes, so I knew not to expect Holmes' methods or quirkiness. I also did not expect a "Dr. Watson" but was pleased to find out who the character was based on.
This movie is entertaining; admittedly some of the acting is lacking, but all-in-all, it is something I highly recommend. This movie has humor, light drama, mystery, and some good actors. If you want "real" watch a documentary; for fun entertainment "Arthur & George" is a good bet.