It started off ok. But the main problem is they are still obsessed with using the Ultimates setting as the basis. And considering how bad Ultimates was... it is a perfect fit for fake Disney and their agenda squad. Failure is the only option. Expect it to get worse.
Are they? There was nothing particularly Ultimate! about MCU!Spider-Man, I'd say most Ultimate was Garfield one, with all father's secret subplot and Goblin being partially physically mutated.
I'd say both MCU and Raimi Spider were relatively far from both main Marvel and Ultimate in my general feel, and that's fine.
The most Ultimate thing in MCU for me was making Avengers at least initially tied to government and shield. (And giving Hawkeye family I guess, though that's like only major similarity)
Otherwise - not so much. Ultimate Cap, IM, Hulk, Thor... they were all far removed from bot main-verse and MCU.
And that's fine for me. But then for me Ultimate Marvel started fine, way less convoluted than main, and degenerated with few massive clusterfucks later down the line.