This show was apparently developed by Ricci after a book that really focused more wholly on Zelda.
The writers here have opened it up to be more about Zelda and Scott, as emblematic of their moment etc. While the show is beautiful and well paced, and Hoflin is pretty good as FSG, it is at its best when it focuses on Ricci who really gives a brilliant performance and manages to assume the moment and it's obvious touchpoints (cigarette holders, champagne glasses, insouciance etc) without apparent cliche.
She is well supported by the more senior players, but some of the actors playing the coterie of friends and hangers on have been unable to see the wood for the trees and just give arch performances that lean too heavily on stereotypes and the aforementioned props. The writers too are to blame: ultimately it is not quite what we hope for, but it's still a bit mean spirited that Ricci wasn't lauded for this performance. She carry's it as far as it goes, and it goes pretty far.