If you're a fan of the series, you'd most likely be a fan of the house, and it's fair to assume the opposite would be true (obviously not 100%). That being said, it did stay true to the visuals of the series, so in that aspect they did a good job. With that being said, I did like season 1, but agree with you about the other seasons. Regardless of whatever we think, it's a name that gets quite a bit of national air time, and will put butts in seats.
It will absolutely be a people eater. Even without knowledge of the stories, it will provide some creepy visuals to the tourists who aren't necessarily into horror, possibly even get people who haven't seen the series to watch it...for better or worse.