*Spoiler alert*
The film was good. If you were looking for monster vs monster action then the movie is definitely worth watching. The character development were bland and rightfully so. Not needed. Many characters weren't needed as they didn't really add much to the story; I'm looking at you, you genius level high-school kids looking to uncover the secret behind Godzilla's rage who're also somehow Agent 47-level sneaky: the daughter of the corporation's CEO, who asides from having good looks and a few lines, also didn't really add much. The way she made her exit though definitely deserves a F (to pay respects) in chat/the comments.
Perhaps, the most cringey chapter of the movie when compared to what I mentioned above was the implementation of another "realm" known as "Hollow Earth", "actual" home to these titans. Also seemingly where Godzilla acquired it's power. Also where Kong acquired his power. It was almost as if the realm was once inhabited by intellectual species that'll put even humans to shame. Basically, there was a lot of magic to it and that would most definitely raise some eyebrows.
All in all, the battle scenes were great and just, if not, more than what I expected going in. The ending battle was quite astonishing but does stay true to movies of the past, with Godzilla's archnemesis making a return. But it is the fight right after that really brings me tears of joy. As the saying goes, "Yesterdays enemy is todays friend". No matter how cringey the fight was, the fact that the 2 kings dropped their differences to tackle the greatest threat at that time, was enough for a standing ovation.
Differences aside, some suggestion for potential collaborations in the future is to stay true to the lore of these monsters. Hollywood basically made the movie into a fighting/sparring match between the 2 with certain rounds going to either of the titans throughout the movie. And then (the defining part of the movie/history), humans and their limitless ambition got in the way.
Although, it was nice that it was a sequence of fights rather than just one big match.
That said, Godzilla was founded on the idea of mother nature retaliating towards humans due to their manipulative and destructive lifestyle (was arguably, the theme behind Godzilla's rage). So I would love a future movie in which Godzilla and Kong faces off again, but in it's case, it's the fight for the survival of humanity. No holds barred.