I didn't read this edition but a 1930 one with Walter Crane Illustrations (of which I would've liked more).
It was neither as preachy as much Victorian children's literature nor as exciting as the best. There were some obvious didactic efforts and some interesting or pretty scenes, but overall I found in a little dull.
As a child I would have liked best the brief visit to the cuckoo's house. As an adult I found most interesting the penultimate introduction of the little neighbor boy, Phil, and what it reveals about class assumption and gender.
There were a lot of pretty standard "girly" elements: Griselda meets the flower fairies and gets a pretty dress for a banquet (which, interestingly, turns out to be very boring) and the virtue promoted are the standard feminine ones of obedience, silence, politeness and lack of complaint in the face of illness, boredom, and pointless tasks.
Fine but definitely not an essential read unless one is researching less-well-known Victorian fantasy.