The Wanderers is a more light-hearted version of the original El Hazard: The Magnificent World tale. The best way to describe it would be as a more traditional TV version of the original OVA. It has less focus on the main story, and actually expands and adds more life to the world. Some episodes are just for backstory, or random events that add colour to the world, before returning to the main thrust of the story. Some may consider the new additions, or variations, to the story as filler, but this is just a variation/adaptation to the original. It's trying to do its own thing witha less serious tone.

If it was exactly the same as the original it wouldn't be worth watching as there wouldn't be anything new to discover. Changes or additions aren't inherently bad.

My main conclusion is that if you enjoyed the original, and want something a bit more chill then it's well worth a try. It isn't going to blow anyone away, but it might be a fun weekend watch.