I'm not sure of what to make of it from the first episode alone. The story seems to be an alternate reality where Connor's (Or rather Ratonhnhake:ton's) mother is still alive and Connor still believes Washington is a good man.
However, in this story, Washington is a tyrant and he has been hunting down the Natives, and specifically Connor's mum who had tried to stop 'King' Washington. However, that's no easy task. King Washington has a spectre of power, which seems to be exactly like the Apple of Eden in previous games.
So, something happens and Connor is forced to do something which gives him the power of the wolves.
You still have all of the weapons from the main game and top of that, you can cloak to sneak past enemies and you can call on a pack of wolves to help you take down the enemies. So, like Assassin's Creed, you can sneak past enemies and do silent kills. But if you need to take out a group of enemies, you can do it real quick.
It's not really Assassin's Creed since you have magical powers like cloak and the wolf pack. In the next 2 episodes, I think you will get the powers of the eagle and the bear. So, there's a bit of lore taken from the Native Americans where they believe they can get the powers of certain animals. Mix that with the core AC gameplay and you get this DLC.
I was under the impression that this DLC story was just a fun extra, based on Connor's Native American roots and has nothing to do with the Assassin's Creed story. However, the existence of the Apple of Eden shows otherwise. However, I have heard that this DLC is non-canon so I guess it's just that it's just 1 of the Alternative Universe things that is very common in many comics.
Not too bad, I'm enjoying this DLC and looking forward to try the next 2 episodes. There's also a collectible fragment side-mission, so I'm curious to see what gets unlocked after that. With the powers, a lot of the missions can be done faster so it doesn't seem long and repetitive if you are tired of AC3 already. Definitely a fun story to check out, if you haven't played this.