I liked the 1st episode, but you’re absolutely right. Not much of a shock to learn that our benefactors are evil reptiles, when that’s revealed after about 30 minutes.
I’m wondering if this show is going to jump around with flashbacks like Lost. Part of what made the original V such a great miniseries was the buildup to the unveiling of the visitors. “V” could work well using flashback in that a lot of aliens are “already among us planning our doom” :-).