I admit I hadn't done much reading about Mandalorian before it was released (hadn't even watched the trailer) but I was expecting a story of the week. I have no problem either way as long as the stories are good.
I one of the interesting things about the Mandalorian story will be how they resolve it in a way that fits in with the movies that are set after it finishes. They can't have anything too major happen without it creating inconsistencies with the new movies.
Basically if Baby Yoda survives and develops into a powerful force user, they have to explain why he doesn't appear in episodes 7 or 8 (or 9 I'm assuming)
I think the biggest difference for modern TV, is that they no longer have to worry about filling a 26 episode season, and can just make 10-12 episodes if that is what they want. I think needing to have an episode every week for 6 months led to a lot of filler episodes that weren't very good
The fact that most TV has an over-arching story is generally a good thing too, but I think that shorter seasons are ow the norm has done a lot to help improve the quality too.