Was it as bad as everyone says it is? No. Was it good? No. That being said, this is really an average movie at best, and a below average movie at worst. Typical Rolan Emmerich style of a crapload of special affects and battle scenes that are Oscar worthy, but not much else.
To start off, I disagree with most Godzilla fans about the monster. It wasn't what I expected, but it was pretty cool. Emmerich must have done a lot of work on this thing.
Also, the chase scenes were pretty nice too. They were even better than the ones from the 2005 King Kong movie. There were also some pretty creative ways that the director used to help the heroes escape. The plot was pretty nice too.
However, there was slightly more bad than good. Most of the acting was downright terrible. I particullary disliked Matthew Broderick's preformance as Dr Niko. It was emotionless and underdone. But the good news was, it was better than most Broderick preformances.
The good news for Broderick was that he was not the only one with a bad preformance. Maria Pittilo was pretty bad too, the overacting to Broderick's underacting. Heck, you might say every actor was bad.
The intorduction to the baby Godzilla's was ridiculous and uncalled for. The baby godzilla scene was basically a badly redone Jurassic Park Velociraptor scene. They looked like deformed reject giant birds more than terrifying monsters. When Broderick is the cause of your demise, you know you're lame monsters.
The ending was horrible. When Godzilla finally dies, there is this moment where we are suppoused to feel sorry for it. It is kind of emotional, at least until the crowd starts cheering and it ends of on a completly different note.
Overrall, bad movie. Not horrible, but bad.