This is perfectly fine—the TV special equivalent of a snack-size candy bar. It's safe, mildly entertaining, and short enough that you won't lose your mind watching it.
The LEGO format does exactly what it's supposed to: makes Star Wars accessible for the kindergarten-through-third-grade crowd without any of the actual Star Wars baggage (death, dismemberment, Anakin's whole deal). Your kid will giggle at plastic Yoda, maybe ask for the LEGO set, and move on with their life.
That said, it's pretty dated now. The 2011 animation looks clunky compared to The LEGO Movie (2014) and subsequent LEGO productions. The humor is gentle but not particularly clever. It's enriching in the way that eating plain toast is nutritious—technically yes, but nobody's getting excited about it.
If your kid is in that sweet spot of loving LEGO and being Star Wars-adjacent, throw it on. Just don't expect it to be memorable or particularly engaging for anyone over 10. It's a solid 68—does the job, nothing spectacular, won't hurt anyone.