In short it does its job as a recap, if it has been awhile since you've seen the first season before starting the second season of fate/zero, or took you awhile to watch the first season. This will definitely refresh you on the important plot points and dialogue. To be frank the first season has a lot of filler, there definitely isn't an each distribution between the two seasons. So one could probably watch just this instead of the first season and still understand what's going on in the second, if one didn't have the patience to sit through the first season.
Although being an adequate recap, it's definitely not executed well, the order in which the scenes are placed doesn't make much sense, it isn't chronological, or by like each master-servant's point of view just randomly assembled, which gives a few of the scenes misleading context. But nothing is too detrimental to it serving as a recap. Nothing special here on par with other recaps mostly.
Everything else is consistent with the first season, as there isn't added content.