The first half of the movie is fun. Callbacks, intriguing mysteries, all the hallmarks of the original Matrix.
The second half goes off the rails- when one of the characters covertly flew on a machine bug through some machine tunnels I got a serious Avatar vibe.
There were too many ideas that weren’t fleshed out, the action was anemic - and mostly involved Neo holding his hands up. Too many silly jokes at the expense of the weight of the given situation.
So far as I’m concerned, The Matrix is the only Matrix movie that matters. Everything else is derivative, especially the three sequels.