The first episode was poorly done. It spent too much time trying to re-cap all the important historical events that led up to the series, making it disjointed. Also since the main characters hadn't been introduced at that point, it's hard to care about what's going on.
That sort of thing can work for period dramas based on the Warring States or Romance of the Three Kingdoms, since audiences have some idea of what is happening and who the players are. But it definitely didn't work for Rise of the Phoenixes.
IMO the series does improve. It's more soap opera and less action than most Chinese period series I've watched. But I enjoy the political intrigue and visual presentation. Plus some of the main characters are likable.