That's entirely up to you to decide but I would watch it.
About two weeks before S3 premiered I watched the first two seasons in their entirety. Season 1 actually felt like a chore to watch because it was horrible! I didn't get it at all no matter how hard I tried to follow the story! Things were just all over the place.
Season 2 however while nowhere as good as Season 3 was a big improvement from Season 1. Actually the time travel stuff is why (in my personal opinion of course) Season 2 is better. It was quite fun to watch actually.
The only redeeming factors about Season 1 for me is, Picard's dream of him and Data playing poker in Enterprise-D's Ten Forward lounge, Picard meeting with Troi in "Nepenthe", and Riker's brief return to Starfleet to command the USS Zheng He. Oh, and I guess maybe parts of "Stardust City Rag". That's literally it.
So if anything I probably would've excused myself from Season 1. Probably save myself some brain cells. Haha