It was certainly not the best "trapped in the time loop" story ever conceived. But for a Chibnil story that was rather good. No one was trying to explain where Andred went after he married Leela or the origin of the Toy Maker. Just a simple run-around and the Daleks were not naff. The Daleks were not immortal beings teleporting across the planet nor were they totally dense and silly. The Daleks were ruthless and intelligent shooting down the regulars on a regular basis.
Plus the Sea Devil head appearing for the next episode! It wasn't totally "re-imagined". It was a real 1970's Sea Devil. Let's hope they don't bugger this up the way they did the Sontarans in the Crimean War.