Emily Nussbaum's long look at Feud in The New Yorker is beautifully written, and she sums the whole damn thing up right here:
A woke Ryan Murphy is a tricky proposition: as anyone who watched late seasons of “Glee” knows, didactic camp can be a nightmare. “Feud” has its flaws—a jokey song cue here, blunt exposition there. But Murphy lets the contradictions sizzle: he knows that schlock can double as great art; that self-loathing can work both as a goad to ambition and as an emotional crippler. “Hollywood should be forced to look at what they’ve done to her,” Geraldine Page (Sarah Paulson) remarks of Joan Crawford late in the series, but not unkindly. Like all great horror, “Feud” loves its monsters. It’s also a lot of fun.