In a vacuum, it's a really good episode. Good drama, good kills, good game, good action, overall pretty good.
At the same time, it's got a lot of small things that hold it back for me. Without spoiling anything, it makes a lot of small but very dumb decisions that add up to be an awkward viewing experience.
It's definitely the most overwhelming episode of the show so far, and that's saying something for Squid Game, one of the heaviest and most content filled shows I've ever seen.