This has been the ultimate homage to the Matrix franchise and I really like how the story connects to the first part as well as other parts.
It's quite intelligent, making an alternate reality by recreating the 1st part of the movie exactly identical to the 1st part of Matrix.
Those who say this is garbage have no clue about the storytelling aspect of filmmaking as current generations are used to simple storytelling of 1,2,4, etc. The Matrix is not as simple as telling the story as 1,2,3,4.
I find it the storytelling of the movie is very similar to the movies like Memento, Shutter Island and Inception. The writers surely might have taken some inspiration from Christopher Nolan's storytelling.
I really enjoyed this movie, as they are creating their own version of Rubik's cube by connecting dots from past series 1, 2, and 3. Therefore, I highly recommend you to watch prior Matrix series before watching this.
I think the current generations of people are exposed to simple storytelling and not so patient with complex 3-dimensional storytelling of a film, hence explaining why this movie did relatively poorly (also Covid has a lot to do with).
For those who really enjoy complex storytelling and the ultimate homage to the Matrix franchise. You will love this...
Highly recommended!