Because the movie seems like a fan-made parody which never needed to be made.
If you walked in expecting for lightning to be captured in a bottle again then you will be greatly disappointed.
The movie focuses on bringing back Neo and Trinity into their respective roles, however you can tell from their appearance that they aren’t 100% immersed in their role like they used to be. Both of them have aged and moved on with their lives onto the next chapter like retired professional fighters who now get together in old age for an achievement award knowing full well that their glory days are behind them.
It's a bunch of uninteresting, unsympathetic, and unrelatable characters. No one to root or care for. There was no discovery or deeper meaning. This was a few clowns short of a circus type of film.
Some other memorable mentions go to the Matrix cast and how they are able to dodge bullets, when you have the swat team and 2 agents firing at you at medium range, the matrix crew somehow able to dodge dozens of bullets every time repeatedly. The action here is reminiscent of 1970’s action movies where the bad guys always miss and the good guys get the shot, just very lazy action sequencing.
If you believe that this movie put the nail in the coffin, that’s an understatement.. And the award for the most disappointing sequel goes to…… spoilers alert.. “guess what? its not Terminator dark fate anymore!”