In many ways this is yet another approach to get people, mainly used to new who into classic who (similar to the Tales of the Tardis Episodes) and well did it worked?
Obviously I can't answer that, I may have properly started with new who (I watched Season 24 first, as well as the TVM and later started the first 5 Series of the revival, before I returned years later to properly watch all of televised Who). I will say personally, as a huge classic Fan, this doesn't work.
But before I get into my negatives, I will say I have massive respect for anybody involved. I can only praise the great colorization work we got here, while I may not agree with every choice they went with, it would be very nitpicky of me to use that as an actual criticism point. I will also say there are some fun moments and clever choice to edit, but that's where my praise stops.
The Daleks in Colour in many ways brought me near to the Original Serial, one which I wasn't huge about (and still not am), yet it showed me that despite my issue and criticism its runtime, while still a bit too long, in my books, shouldn't have been brought down so much. As I said before this very much feels like an approach to get newer viewers into the classic series and that's fine of course, but really when I watched it, I scratched my head at some choices of this cut down-version. The biggest issue that plagues this Version of the classic Story really comes down to the massive parts of context missing. Some rather charming scenes or even more important Scenes are missing here to achieve a shorter runtime that doesn't pass the longest revival episode (Power of the Doctor) for example. And that I find is a big shame. I'd argue at points it can feel rather confusing, especially for viewers who haven't seen the Original, making me question who this was made for?
I, of course, cant speak on behalf of anybody other than me. But I really doubt most classic fans would prefer this Version over the Original. Similarly, I feel like fans mainly of the revival could possibly still be put off by this, especially when it comes to the Parts with the Thals, before that the Story flows pretty nicely.
At the end, I can recognize that this wasn't made for me, which is totally valid! But I'd wonder who this was for? As I put in my reasoning, I'd struggle to see the benefits for any side and I am sure some loved it or even prefer this, which I am happy about of course! But I really do hope when we get more of those colorizations in the Future, that they maybe chose to cut less out, I am not against cutting stuff out, but I think when it comes to a 7-Parter or some bigger ones, more is a bit better. (I do understand that this process takes time but I happily wait a bit more if it means that the end result feels more cohesive. Again no dig at the team, they did a good job with what they were given, I just hope we improved onwards with those new Versions of old classics!)