Yes, It's as Bad as the Title Makes it Sound
This issue of the Fantastic Four introduces two long running Marvel concepts - one the Blue Area of the Moon, and two, the concept of the Watchers, an ancient race that observes the goings-on in the universe.
For that it gets a half a star higher rating - which unfortunately makes it a 1 and a half star comic.
The story is a tale of the FF making another trip into space, this time a trip to the moon, in order to beat the Commies of course. Unbeknownst to the FF, a Russian scientist and his four trained apes are planning on making the journey at the same time - and passing unshielded through the cosmic ray belt so that they gain greater powers than the FF in the process.
The story is so filled with wretchedness, it's almost overwhelming to find a place to begin. Amongst other things, we have:
-The FF just happen to have a 'special suit' for every occasion, Reed has a stretchy asbestos suit, Johnny has an atmospheric suit that lets him fly through space, etc.
-More 'Red' hysteria
-Super powered apes (if that's not bad enough, remember the Impossible Man from two issues ago? Now we have a baboon with that same stupid power!)
-More use of 'magnetism' as some sort of magic power
-Once again, Sue Storm exists mostly to be a victim to be rescued - in fact at one point when all four teammates are challenged with a 'who's gonna stop me' type line, they respond by saying the three of us.
-lots of silly gadgets or alien tech that's immediately understood by Reed, or the villainous Ivan
Oh, I could go on, but I fear I've wasted enough of my life on this issue already...