To me, it's the most lacklustre of the three FF13 soundtracks, but I thought FF13-2's soundtrack was the strongest out of all three for its compositional and genre diversity. That said, LR's soundtrack fits the game, but the general mood and genres used throughout the soundtrack aren't to my personal taste. I think when I heard the soundtrack for the first time, I wasn't completely sure what to say, and I still kind of don't. Whatever tracks stand out, stand out very well. The music is more suited to add to the atmosphere and that works within the context of the game considering the type of game it is (more exploration-based and pacing suited to how the player wants to proceed). In terms of listening to the discs on their own, it doesn't have the same effect as the previous two soundtracks to me. I think it's the one FF soundtrack out of all the physical FF soundtracks and arrangement albums that I own that I've probably listened to the least post-game release.
The person I know who worked on the soundtrack added some neat things in the mastering phase, though. Especially towards the end of the soundtrack on Disc 4.
I think the soundtrack's reception has been mixed in a few VGM circles, though the bigger sites seem to like it. Though, again, since I listen to soundtracks out of context quite often, LR's soundtrack doesn't work as well compared to its predecessors. In-game, though, it works quite well and achieves its desired effects.