Legends
Spoilers for this issue, yo. I'm reading all the Villain Month issues so I can give the new reader perspective. I know quite a bit about Ra's which is good because going in completely blind is a bad idea for this issue.
The Good:
This issue does a good job of showing the dread that Ra's bring to the table, he feels like a powerful ruler of an evil empire and it really works. His arrogant refusal to bow to the Secret Society also fits the character very well. Really the overall explanation of Ra's history is pretty well done despite basically being a pile of exposition. The ending of this issue is a really nice little bit for Ra's that I enjoyed quite a bit.
The Bad:
Once again we have an issue that really only serves to set up that the villain will be fighting the Secret Society and this issue gives Ra's motive away very quickly so it feels like a lot of the issue doesn't have much of a point. As I mentioned before while this issue has some good writing it's still mostly exposition and that really shines through for me. Also I wish Ra's dominated the fodder he fought in a more interesting way, or at least made his sword fight look a bit more visually interesting rather than just some shots before we went to flashback land.
Overall:
This is a nice issue but I don't think it's a 5 star by a long shot and I'm not really seeing what makes it so great. If you're a Ra's fan or a Bat fan in general this issue should be pretty enjoyable but don't expect to get blown away.