Let's get the good things out of the way. Brilliant cinematography, Set design, lighting and excellent acting by many stars in the movie ( except Keanu Reeves). It set up things so well.
Now, to the cons. The fight choreography is excellent. That is when Keanu Reeve isn't fighting. His fights are so bad. Ponderous, slow, aided by deliberately slow stunt men around him. The first one was genuinely good. Now, they have just milked it all.
The fact that such mediocrity is entertained for so long in Hollywood, and instead lauded, is why the industry grows at such a slow pace.