I loved the Shrek movies. 1 was amazing. 2 was on the same level. 3 was pretty good, but not as good as the ones before it. 4 was entertaining but didn't feel like a Shrek movie at all. It really could have been told outside of the Shrek world and stood on its own.
But at this point the series is nearly a quarter of a century old. It's a good sign that they're not doing an alternate timeline type of deal, but I'm not super hopeful that the story will still be good.