It could be a good series but what's the point in setting it on Krypton? It will be a random sci-fi series with House of El crests slapped on the walls and costumes.
For one thing, name recognition to get people to watch a science fiction series they might not otherwise try out. Like I said,
Caprica wasn't originally going to be in the
Galactica universe.
For another, there's the drama of a story set on a world facing possible destruction. I gather they're going to stretch out the traditional narrative and have the danger of Krypton's doom become known to Jor-El's forebears. So the stakes of the series's conflicts will be nothing less than the fate of a world. Sure, we know the outcome of that, but we did with
Caprica too.
And we don't know what other ideas they might have been able to draw on and build into a viable series premise. The fact that we don't know their plans doesn't mean they have none, just that different people can imagine different things.
With no super powers and characters we know the same series could be set on the stargate earth in the 22nd century, just change the main character from Gramps-El to Greatgrandson O'Neill and you're done. Visually there won't be much of a difference between Krypton and future earth anyway, not on a tv budget.
The Expanse has done a pretty good job of telling a story set mostly on alien worlds, stations, and ships. Then there was
Sanctuary, where pretty much the entire series was shot with greenscreens and virtual sets. And if this is a prequel to
Man of Steel as reported, it may be able to reuse costumes, props, physical and virtual set pieces, and digital cityscapes that were built for the movie, which would save money.
And just because they don't have powers, that doesn't mean they wouldn't have a distinct culture and technology that would be engagingly alien. Vulcans, Klingons, and Cardassians don't fly or shoot lasers out of their eyes, but that doesn't make them indistinguishable from Earth people. Plus, Kryptonians would have their own distinct technology. We know they have robots, antigravs, those neat animated display things from MoS, who knows what else?
Although even that depends on what version they draw on. Sure, the default explanation since maybe the '50s has been that Kryptonians only gain superpowers from exposure to Earth's yellow sun, but before that, the original idea was that Kryptonians' powers were innate because they'd evolved so much further than humanity. The first comics had said that Superman came from a race of supermen with powers dwarfing our own. In the 1940 radio series' premiere episode, there's a conversation where Jor-El explains to a surprised Lara that Earthmen "can only step three feet at a time at most" rather than being able to travel any desired distance across town in a single step as he and Lara can.
So if they wanted to, they could give the Kryptonians
some powers different from human abilities. Although I don't think that's where they're going with this. It sounds like they're thinking more political-thriller soap opera in the
Caprica vein than comic-book action.