In my opinion: Yes, it is.
The first season takes a couple of episodes to find its footing, but after that it is, if nothing else, great entertainment. You could watch the first episode, then 8 and 10 to gather the early team (the rest shows up way later) then skip to 13 and continue normally. This skips most of any early awkwardness, takes the first and arguably most boring of the antagonists out of the picture and begins the arc were the show really starts to shine in its very unique way.
But the episodes are short enough, more so if you actively skip stock footage, and given the show's shoestring budget and time constraints so skipping 10 out of the first 13 episodes isn't much of a timesaver. You just see a lot less of Usagi crying.
The first anime (Sailor Moon Crystal is the new one, and more closely based on the manga) and the manga are supposedly somewhat different. Legend has it that some of the showrunners and Naoko Takeuchi hated each other's guts (she particularily hated them turning Rei into somewhat of a mild tsundere). I have never read the manga, so I don't know, but I do plan on watching Sailor Moon Crystal, even though I really don't like the way it looks.
Sailor Moon S (third season) is, I think, the show's absolute high point. It's not just the high point of Sailor Moon, but up there with 90ies anime in general - just don't expect any Evangelion level commentary on human existence.
All that is, of course, with two "minor" caveats: First, it's silly. By far and large, it is mostly silly. There's drama, action, some social commentary, it is occasionally heartbreaking (to be honest, the first time I saw that season one finale I cried. Sure didn't tell that to my friends at school, but eh, yeah), but at the end of the day it is... silly. Assuming you can appreciate the abject silliness of the show you'll get a lot of laughts out of it.
Second, and that also needs to be said, it also is a magical girl sentai shojo anime. One of the first of its kind, I think. To quote Mike Stoklasa here: It broke new GRROOOOOOOOOOOOUND! I mean it unironically though, and there's a reason why it became popular beyond all the wildest dreams of its creators. Even though it was made for young girls, the only people I know that watched Sailor Moon were guys, and we were mostly in our mid to late teens at the time. Huh.
Oh, and has a really minimalistic artstyle that I think is super gorgeous, but it was noticably different from other anime at the time.
edit: Wow, forum software just ate my precious edit.
@Bartimaeus I agree with your theory.