It's emotional, and touching - No doubt.
In two words, "whimsical and superficial".
But it seems to take a very direct and simple-minded approach towards mysticism.
It's a movie made by and for someone who is experiencing a spiritual crisis, and it lures it's acclaim by providing emotional support and reliability.
In short, for those of you who are looking for something to hang on to in spiritual terms, and are more inclined to the mystic approach, then this movie is for you.
The rest of us who aren't experiencing the need for spiritual presence in our lives, will see this movie for what it is, unattached by it's lure of spiritual help: A simple tale, filled with cheap alegories to provide a whimsical false layer of deep thought, while still managing to distance itself from a concrete spiritual view, through first-grade, basic philosophical principles that an undergrad could deconstruct in his first, skeptical view of the movie.
To me, "Life of Pi" is and always will be, the film adaptation of a self-help booklet and might as well have been called "Spiritual Guidance, Wish Fulfilment and Emotional Reassurance: The Movie".