As an adaptation: It's horrible and is only barely recognizable as Runaways, and even that it only thanks to some of the base surface level elements of the characters being so unique. Based on how the season ended, it looks like season 2 may be more loyal, but as it stands, its adaptational merits are no higher than the likes of Dragon Ball Evolution and The Last Airbender in my eyes.
As a TV Show: Fortunately, on its own, the show is nowhere near as bad the aforementioned movies. Unfortunately, I still don't think it's good. It starts off great and the first couple episodes definitely had me hooked, despite all the changes. However, after episode 5, the show takes a massive nosedive in quality. While the first half of the season feels like its building up to something and the excitement you get allows you to overlook some of the show's flaws, episodes 6-9 abandon all that momentum, the show just spinning its wheels for four episodes as all the problems from the first 5 become amplified tenfold and a host of new problems are introduced. By the time I got to episode 9, I was forcing myself to watch it and episode 10, despite some nice fanservice moments, is probably the worst of them all.
Compared to the Other Shows: I haven't watched Agents of Shield, it's no where near as good as Luke Cage, Punisher and Jessica Jones, it's not as good as Daredevil, it's a bit better than Defenders and, like getting punched really hard in the face, it's better than Iron Fist.