The fighting scenes are choreographed like a an episode of Adam West's Batman with some gore thrown in for good measure. The sex scene is played for laughs. Ozymandias and his accent come off as cartoonish when compared to the GN. Carla Gugino overacts and looks ridiculous in her old age make up as does "Nixon". Some of the music choices seem forced and misguided. A combination of over-acting, jarring music choices, and slow motion make you think you're back watching 300 again instead of a Watchman adaptation. The movie as a whole plays like self-parody. Any amount of quite poignancy and meaningfulness is derailed by the clownish missteps.
Thematically. The conspiracy lacks the grim lasting impact of the book or the troubling build up. Rather than a deconstruction of the superhero the movie is closer to Dick Tracy with set pieces and costumes overshadowing characters. Parts of the book are thrown into the mix as Easter eggs without the proper context. Overall it's a noble failure and doesn't come close to the tragedy, satire, and psychological realism of the source material. All lost in translation during the cut and paste direction of Snyder.