The first Matrix felt REAL. It was a Revelation. This thing feels like a cheap farce. Almost feels like you went to a musical based on an original movie.
Aside from the stuff that plages all the recent sequels to the formerly great movies (meta-commentary and agenda-pushing), The fight scenes are Bad. No amount of special effects could save this.
Using the monologue from the movie itself: "They took something that was so important to us and trivialised it"
Finally, the turn to a colourful pallet in the matrix4 and Wachowskis more recent movies is symbolic. Like Saruman the white, turning into Saruman of many colours made him weaker the multitude of unconnected themes of this movie don't do it any favours.