This wasn't trash... But it was lacking something.
What I liked was the production design, the music, the full on bat guano crazy totally ahistorical fantasy setting, Richie's panache and style both the pacing and editing of shots, the costuming and many of the VFX (though there are a couple hiccups I will get to). Law is also pretty good as the heavy. He has a monologue about fear and control over people that the way Ritchie executed it was really good for me at least.
Overall though I think the issues are the characters, more specifically those in orbit around Arthur. Too often they felt just kinda perfunctory, and unless played by the likes of a Djimon or Aiden, experienced actors that can still command attention no matter what, they tended to fade into the background. If you reacted to anything happening to these characters it was because of simply identifying the situation as bad for anyone but not because of your investment in that particular character. I liked what Blue said about the way Law brought about Arthur, but I don't think that theme was alll that well spelled out in the proceedings. Finally, the inner turmoil the issues with Arthur's memory etc... Sorry they weren't all that well done. I barely understood what the problem was in the first place outside of boilerplate "refusal of the call" hero's journey stuff. Lastly... I don't usually complain about VFX, Slow Mo, "shakes cam" or the like unless it's terribly noticeable or obnoxious. And I am not saying that is the case here but there are at least two VFX set pieces and one is the finale that, I don't know, just didn't feel all that well done given the what I pointed out about over use of certain techniques.
It's a bit of a misfire but hardly the total disaster the Internet likes to paint all things as if it's not somehow an "instant classic". Still, I think on balance it underwhelmed due to the elements I listed.
