It All Depends, Really
For the part of me that loves the progression, loot, quest, and story of the game. There is another side of me that just wanted to straight up kill stuff. This is especially coming from someone who barreled through the Zombie Island of Dr. Ned uncountable times, and spacifically finished Brrrraaaaiiiinnnnsss! twice to completion, due to a glitch which also bugged out my character file. This is important to note if only to illustrate how much of Moxxi's Underdome was wanted.
Things I liked: The bank, No-nonsense straight-up murder without traveling, rules by which the waves are governed, increased difficulty based on every fifth round, a tough challenge for people playing unmodded.
Things I disliked: Slow transition between waves/rounds make the sessions last far too long, and this issue becomes straight-up unbearable when doing the 20 round stints.
Basically, if you want something to change it up from what Dr. Ned's Zombie Island was, or a challenge for friends.. this just might fill that need for a little bit. However, I am hoping that Gearbox does some alterations for this DLC after the fact, so that it becomes more about what they meant Underdome Riot to be originally.