I’m not really sure what the point of making a new series based on an action-RPG from nearly a decade ago was. If the MMO version were still active or they were in the process of hyping a sequel I could understand… but there just doesn’t seem to be any reason for it to exist.
Is it worth watching? Not really, no. Though I will grant that the production team did seem to put some effort into re-working the story to fit a miniseries mold.
The show with the long title on the other hand has an obvious reason for existing: It’s an adaptation of an ongoing light novel series. And is it worth watching? Again, not really. Although most of the action scenes are surprisingly decent; it’s rushed, the comedic elements feel out of place, and both the story and character behavior are as generic as can be.
Skip them both unless you’re incredibly bored. Maybe even then.