The massive number of names and seemingly unrelated adventures can appear cumbersome, but the beauty of the Silmarillion, IMHO, is that you can pick up the book and read one chapter at a sitting and not feel obliged to continue on to the next chapter.
FReegards...MUD
But then most people aren't like me.
It's not a fantasy novel per se (of course, neither is LOTR, but that's off the subject). It's not strict narrative. As a result, it can be offputting to those expecting any of the above.
But if one reads LOTR and The Hobbit first - and loves them - then you can approach The Silmarillion with a sense of why these events and people matter.