I so far have really liked the Krakoa concept. Personally I think it is something new compared to the last few status quo's of the X-books which mostly amounted to fighting off extinction sometimes due to the inaction of the entire marvel universe (IvX). I don't have a problem at all with the way the mutants are acting, they are providing world altering medicine for the low price of acceptance as beings with rights. I also don't have a problem with them accepting people like Apocalypse and Sinister. With them on the island and happy they aren't out in the general population killing and maiming other people, they have basically become refugee's in Krakoa that actually have a voice. I also don't have any issue with them being on the quiet council because it gives the angels on the island the opportunity to closely monitor the demons.
I am willing to admit that the new status quo could benefit from a bit more backstory but I don't think it is necessary for the story to be told and enjoyed. Would I like to know how Prof X came back? Sure I would. Would I like to see the first conversation he and Cyclops had? Absolutely. Do I need to see this to enjoy the story in front of me? Not at all.