From what I’ve heard and seen (watching along with my daughter), it’s not great. Not terrible or unwatchable, just kind of…there.
You’re usually aware you’re watching a toy commercial as the stories are not all that compelling or interesting. The characters are fun (mostly), but the scripts are usually phoned in, everything is predictable…any of the magic of G4 is long gone, which is unfortunate.
So long as you keep all of your traffic encrypted, no one’ll be able to snoop on it, though they could already see destinations/type of traffic. Anyone who controls a VPN start or end point can see anything that tcpdump can reveal.