If you enjoyed Carnival Phantasm and came here expecting a similar experience, Fate/Grand Carnival completely differs from its predecessor. This anime is a fan-service towards the audience that enjoys Fate/Grand Order. To clarify what Grand Carnival differs from Carnival Phantasm is that you would not understand the context of various scenarios when gags or jokes are used, unless you've actually played the game and understand what the FGO community is like. There are of course, familiar characters but they follow the context of what commonly occurs in the game such as in-game events that people who have played the game are aware of. I have playedFGO for a long time now and with my understanding of the game, Fate/Grand Carnival actually carries the soul of what was Carnival Phantasm. You're whole enjoyment of this anime is solely reliant of your understanding of Fate/Grand Order, where if you haven't played the game, then everything will go over your head.

If you have actually played the game (or know anything about FGO), then I am sure that you will enjoy Grand Carnival the same as you would have with Carnival Phantasm.