I’m sure everyone and his mother are posting their banal and overlong reaction pieces today, so I’ll keep it simple:
1) I wish the action in the beginning had been story-driven rather than character-driven. Everything seemed somewhat meaningless until The Oracle provided context.
2) The Matrix is the first mainstream movie in a long time to take its audiences seriously and include long stretches of philosophical dialogue. This remains the most compelling aspect of the trilogy. Hence #1.
3) The fight scenes, though still innovative, have become laborious and repetitive. Unlike the first movie, the fight scenes in this one seemed to be more of a special effects display with no dramatic suspense.
4) My head hurt afterward. So much to think about.
Slate has an excellent review, however.