Okay, I'll say that I didn't have high expectations going into this show, but in the end, it actually turned out to be fairly decent. While it's certainly not the BEST gundam, and it doesn't engross you like Gundam X or SEED or much of the original UC titles, it's certainly a lot better than trash like Gundam 00 and SEED Destiny. People above me are saying that the story is confusing to follow, but I honestly don't find that to be the case. I get the feeling that the people who are "confused" by this story are either just not paying attention to begin with or are just not wired to process a complex world like Greco's.
I will say that a major issue I did have with this show is that several characters including the protagonist join the motley crew of pro-Earthnoid pirates very willingly and on a dime, which IS kind of confusing as they essentially are casually deserting their respective forces. I feel like this part of the character development is what people latch onto and and then say that they are "confused by the story", but in reality the story is actually pretty easy to keep up with if you're paying attention.
Overall I'd actually give this one a 7/10 because it's not quite up to my tastes as far as Gundam is concerned. I'm raising the score to 8/10 though because I'm just absolutely appalled that its getting the low ratings its getting from other people, not to mention that there are people who ACTUALLY think Gundam 00 is better than this show.
To people saying that this show is too "childish", I think they are just confused by the good usage of color in this show as they are too deeply in love with the eyesore color schemes of shows like 00 which they somehow deem "more adult". But having seen most of both 00 and Greco by this point (I'm watching them concurrently) I can safely say that 00's dialogue sounds like it's out of a 11-year old's Gundam fanfiction whereas the dialogue in this show is pretty easy to follow without cringing and is fairly good, even by Tomino standards.
In short: Don't listen to 00 sycophants who give this show an absurdly low rating.