It's not possible to flaw Bridges here. Akin to Falstaff, the detail of his characterisation - from stagger to cough to swagger to song - is fascinating. But he needs more thorough contextualisation to fly.
Bridges can play this kind of role in his sleep, and at times appears to be doing so. If he wins the Best Actor Oscar for this, it will be as a long-service medal, not a reflection of excellence in a demanding role.