I thought it was pretty good so far. They're definitely taking the slow burn approach, and I can appreciate that. Right now it's largely focused on the personalities of these two characters who just happen to have developing powers rather than how two people use their powers.
It's an interesting dichotomy that for characters, whose powers represent light and dark, the light-powered character is definitely the more deeply flawed, and the dark-powered character seems more the righteous paragon. I'm not overly familiar with the duo outside of Maximum Carnage (which gives them free admission to my living room on that basis alone), but it's nice to see the writing side-step the obvious trope of matching their powers to their character traits.
I think that what will make/break this show is when it transitions away from strict character development angle and ventures into the "what are they going to do with their fully-realised powers?" aspect.
With Runaways, it was pretty clear where the characters were going - to stop their "evil" parents.
I'm less sure which direction Cloak/Dagger will go. Obviously, Roxxon is the evil corporation, and you've got social evils like corrupt police and drug-abusing parental figures, but those are hardly "big-bads" that will carry the plot of the show.
Still, leagues better than AoS and Inhumans right out of the gate so I'll happily keep tuning in each week.