I can't say the new series is horrible, but it's not the old series. Halo has(had) one of the best stories imo. Although the books are annoying because of the fact they make the spartans sound much more badass than you can actually do.
No it's not horrible, it's still Halo, it's fun and "full-of-feelings". There are even some good soundtracks (Legacy, 117, Nemesis). But, it's not the old saga. Yeah I can remember Fred survived an orbital drop crashing in a tree.