It lacks the charm of the original shows. The science lessons seem watered down to squeeze in more wow factor and a little politicizing. The kids don't really figure out the lessons anymore but rather are just shown them while the teacher explains. The rest of the world in the show just accepts the magic bus as normal for some reason.
The new Miss Frizzle feels more random than witty. She still makes lots of puns though. The kids don't have personalities anymore. Instead each episode they pick a kid to be the main "lesson learner" that takes something to excess so they can learn about it. It might have something to do with their personality, or it might not.
The technology element they added in is pretty fun, I think the art is good compared to other modern CG cartoons, It's not too bad on it's own as a show. Miss Frizzle still does the Q&A at the end of the show, which is pretty fun.
I don't think it really compares to the original show though. Still I hope they make more and improve on their formula a little.