I really like it. I've posted about my problems with it before, but in many ways - The art, the development and diversity of the characters, the magic and world building, it is really excellent storytelling. Greed is hands down my favorite depiction of a smart, functional, but still evil villain in fiction. These are his toys. he's going to take good care of them, make sure they're well maintained. And if you break one of his toys, or worse steal one of his toys, god help you because no one else will. Envy is also great as a miserable backstabbing pissant shit. A very well done Starscream/Chronic backstabbing disorder character. Gluttony's near-mindless hunger manages to be endearing enough that when he goes full nightmare mode it's horrifying. Ed and Al's ruthless idealism is cool. That scene where Armstrong and the other guy are flexing at each other and decide to be best friends is worth the run time all by itself. Little details, like Armstrong being an absolute perfectionist being shown in his alchemy not having the little greebles other people's have, while still being a relentlessly kind man, is pretty cool.

I've voiced my issues with Roy Mustang, noble war criminal, but he's a very compelling character and the way his team are written as loyal because they really believe in him as cool. Armstrong's sister is fascist fap material but she's still a lot of fun, one of the most "Step on me mommy" characters in fiction.

It's not just that it's good. It has many separate elements that are very good, and all of them come together to create an excellent whole.