ABSOLUTELY crappy.
(rant following)
Matrix 1 had managed to score #3 among my all time favourite movies, but Matrix 2 & 3 somewhat tainted that, too. Where Matrix 1 had an intelligent story supported by some nice special fx, the sequels are just an array of special-fx gallores, taking place in a very very unrealistic surrounding, plodding on with a weak fantasy story.
If you'd get a cent for every bullet fired in Matrix 3, you'd surely have enough money to last for the rest of your lifetime, it really gets tiring after a while.
When will hollywood directors finally come to their senses and don't spoil movies by even more bombastic Special FX and stunts? IMO a movie lives essentially from it's credibility. By adding too many superhuman actions performed by regular humans, it loses all authenticy. Matrix 1 managed not to (or only insignifically) cross the borderline of what we could imagine possible. The sequels do that severely, just by the presentation of Zion.
There are examples of great open endings (like Blade Runner), Matirx isn't. It's an overall unsatisfying ending. Even the 2 Euros I had to pay at the video rental was too much for this crap (didn't even bother to wach #3 at the movies after the debacle that was #2).
Watched "I, Robot" at the cinema on wednesday, that movie really rocked (apart from a few exaggerated action scenes

(rant over)
- Markus