While they executed the world and effects well, the story and characters fell flat. I understand when making books to movies, you have to change some things to make the movie flow, but they took massive liberties. Such as adding another child to the mix who did nothing to help story or character development.
Disney was not the right choice to make this story to it's full integrity. It's very loosely based and the books and does not capture the spark from the novels. It was about as bad as Queen of the Damned. It was so packed with action you never got one character on screen long enough to get attached to them. They took all the suspense out by adding exposition.
Will it entertain your kids? Absolutely. Will it sate your fan needs after waiting 20 years to see the novel and it's essence come to life? Nah. You probably will spend too much time comparing it to the books to enjoy it fully.