Ballet is like an obsession. If Black Swan did teach us one thing then it clearly was that. And the show that ran for a season on Starz is clear in its intentions to be a somewhat spiritual successor or at least in the same ballpark. Having one of the dancers from that movie playing the main role here is a start. And Sarah Hay learned Ballet as a young girl, something you can tell by watching her move (though I'm not sure if you can tell more as the teacher/director and some others seem to be able to).
So with a limited knowledge of the art itself, I can say that it is riveting and it looks phenomenal. But the show also dares to explore darker themes and backstories of the characters. You may be able to guess the connections between them (or rather their relationship), but there will be surprises along the way.
If you don't mind complex characters, blood (sweat) and nudity (including lewd acts as some might proclaim), this is really interesting. The character journey is really something and while you can guess to a certain extend where this is heading, the performances make it more than worthwhile