It's entirely possible this film suffered from the hype before my viewing. That's why it's getting three stars and not fewer.
The characters failed to hook me. Elphaba's plight wasn't exactly original, but was sympathetic. I found Ariana Grande's acting to be uninvolving, at best, and I still don't understand Prince Flyero's role in the story. There were, at most, two songs that made me sit forward in my chair. In the end, I felt there was something I was supposed to be cheering but darned if I could tell you what. The film is chock full of moments where I was made to feel as though I should be cheering but I didn't know what.
The production, however, is fantastic, and the cinematography is very, very good. It is a visually stunning film, undeniably. It's just a pity the same ability to arrest the audience could not be extracted from the script and the story.