How hard is it to get to Everest Camp 1?

I'm curious, how challenging is it to reach Everest Camp 1? I've heard it's a significant milestone for mountaineers attempting to summit the world's highest peak. What kind of physical and mental preparation does one need to undertake to successfully reach this point? Are there any specific obstacles or hazards that climbers should be aware of along the way? I'm eager to learn more about the intricacies and difficulties associated with this endeavor.