Ok, the movie isn't winning any awards. The plot, while decent, is very superficially developed, but has an interesting, if obvious twist. There are some continuity issues (Which ear does Heavy Duty have pierced exactly? Snake Eyes is cool with his girl flirting with someone else?).
But forget that.
In the name of Larry Hama, this is good. It's mindless, goofy fun. Great action sequences with a plot that is just enough to movie you along from action scene to action scene. It's what Michael Bay forgot when he made Transformers. We just wanted to see transforming robots kick each other's asses. Steven Sommers gets it. We want to see kick ass fights with cool costumes and gear, and he gives it to us. Straight through the eyehole and into the primal part of the mammal brain responsible for recognizing awesome when you see it.
Everyone does a good job here, even the cat fight sequence is done better than most cat fights. Go see the movie.