While the special effects were compelling and the acting was adequate, this movie hardly makes up for what it lacks in writing. It is hard to state how much of a disappointment this movie was to me. The central idea of the Matrix is fertile ground for enormous creativity, but instead of harnessing it, the creators choose to cobble together a story-line out of cheesy dialogue, random plot events (and plot-holes) and rather horrible character arcs. Instead of engaging with the question of whether it matters if one is living in a simulation, this movie relies on characterizing the "bad-guys" in hopes of emotionally manipulating the audience into that point of view. In the end, there isn't even much reason to support Neo's team given the fact that they don't seem to have a clear goal, and are working to disrupt a world where people actually get to live lives, fall in love, and pursue goals instead of dying early in some future dystopia where the sun doesn't even make it to Earth. And that's not even mentioning how many people they kill in cold blood with the empathy of story book villains. The audience isn't even given any selfish reasons to support the characters as we fail to see them meaningfully interact. Instead, we get told that these characters care for one another despite how they hardly have conversations other than to argue, plan attacks, and offer overly pretentious monologues.
Perhaps there is merely a generation gap at play. I have long since come to terms with the idea that this is a simulation and am frankly fine with that--so long as the people I meet here are real. Perhaps once this movie could make up for its failings by presenting this idea in a modern way to the general public--but I don't think that's still true.