This is cinema on a grand scale, everything about it is breathtaking. The cinematography and visuals are stunning, the set pieces are immense, the scope of the story telling is wide and a large cast deliver polished performances. For western audiences, imagine a movie matching the scale and vision of Peter Jackson's Lord of the Rings trilogy. The stories are completely different but there's something about the sheer scale and vision which they share.
The story is quite straightforward, good vs. Evil, the importance of family, moral corruption and the last for power, however it is done extremely well and makes for compelling viewing. The story is based on a classic story, I am not familiar with the original book so cannot comment on how faithful the movie is to the original.
Production values are very high and all of the cast deliver strong performances. If I have a criticism it is that the good vs. Evil story is very heavy. There is no nuance, no grey, the good people are paragons of virtue, the bad people full on over the top villainous caricatures. Although the main villain starts off as quite tragic in falling for the temptations of a demon that is quickly left behind as he becomes crazily over the top evil. That's why I give 9* instead of 10*, a little more nuance in the characters would have added a lot I think.
Overall a terrific movie for those who enjoy fantasy epics on a grand scale. They don't make many like this.