On the surface, the story appears to be fairly formulaic - Batman must rescue a boy from an affluent family who has been kidnapped by Killer Croc only to end up in a cross-Gotham chase with Catwoman, when things go awry. But it's simplicity is appropriate for a first issue because it doesn't overwhelm new readers while still capturing the interest of Batman veterans.
With the exception of the Odd One-Out, the writing for this issue is excellent. It's exciting getting into Batman's mind as he deconstructs his environment and displays his level of knowledge - which not only boosts the reader's esteem for Batman, but it also serves the story as Batman's strategic mastery is touched upon further and becomes an underlying theme throughout the story-arc.
Even though this is Jim Lee, one gets the sense that he is trying to find his footing with this first issue, in some cases literally. The image on the cover of Batman springing forth with a high-kick seems oddly drawn - missing neck and duck feet. And the fight with Killer Croc is drawn with little logic given to his clothes or his anatomy. One can argue that it is for effect, as Croc is intended to appear wild and monstrous, but it comes off as poor design to me. That being said, again, it's Jim Lee. And for every oddly drawn bit, there are twenty more things that astound and amaze - especially the backdrops. Jim Lee places a lot of work in drawing the architecture of Gotham, giving each backdrop their own distinct character. And Alex Sinclair's colours keep Gotham dark and brooding while also lending it a sort of majesty.
Why is Poison Ivy standing by a fire at the end? It seems out of character since she would a) believe that burning fire-wood is monstrous and inhumane and b) believe that starting a fire just to boost the atmosphere of the room is environmentally irresponsible. It's just an odd choice for her which I'm sure was just made for effect, but it still irks me.