This is strictly my personal opinion.
Watch in theatres : 100% YES.
Pathaan states that it's a spy thriller, but its far from it. I didn't get the spy vibes at all. However, SRK as Pathaan was a delight to watch. Top notch performance, both stunts and emotions. After a long time, SRK made me feel the intended emotions.
10/10 for SRK.
Now to talk about the movie as a whole, there's nothing new in the movie, at least when compared to world cinema. The plot and character development are mediocre at best, and we've seen plots like this way too many times in world cinema. VFX were quite mediocre. I was laughing my ass off in few sequences because visuals were genuinely bad. However, SRK and John's stunts were a delight to watch. I was genuinely impressed in few scenes, but not all the scenes.
Spoiler talk: What I really liked in the movie was the fact that director was trying to bring two nations together. We've been seeing this for the entirety of YRF spy universe, but in this movie, the message was so subtle. Pathaan is the gold that will attach the two broken countries (Japanese reference). I genuinely appreciate the director's thought and I really feel that this movie will bring the two nations together, if you look past the poisonous news media. I still don't understand why the boycott for this movie.
Now, to talk about the cameo, it was surprising to say the least, but I felt it was unnecessary. I get that fans will love this and theatres roof will be blown with whistles and shouting, I never liked the cameos. Please just stick to the actors. Stop banking on cameos. It was totally unnecessary. So is the Besharam song. It was absolutely unnecessary. Totally out of place.
Overall, it's a decent action movie. Definitely not a spy thriller, although it tries so hard to be one. Definitely watch it in big screen. DO NOT wait for OTT.
My rating : 7/10.