I was drawn in at first by the tongue-in-cheek tone of the film, which seemed to promise a lot of fun with the moth-eaten Lone Ranger / Tonto shtick. And fun there was, with so many over-the-top special effects and deus-ex-machinas as to provide a lot of amusement, along with lots of wittily snappy dialog.
However, as many, many viewers have said, the film can't make up its mind what it wants to be. We seesaw from moments of hilarious parody to scenes seemingly being played straight for suspense and terror. I would have opted for playing the humor flat out.
Also largely unmentioned in the reviews I have read is that the whole flick is a cleverly and amusingly packaged compendium of all the au courant leftist agenda items. Anti-capitalist: check. Anti-development: check. Evil white oppressors: check. Noble savage: check. Greedy railroad barons: check. The not very subtle giveaway to all this is when, at the prospective moment of victory of all the nasty, top-hatted industrialists, the Star-Spangled Banner is played.
I will give credit to the filmakers for, especially in the culminating scenes, coming up with a string of the funniest, most enjoyably ridiculous and over-the-top adventure sequences I gave seen on celluloid. But as a whole the movie is an incoherent grab bag of humor, suspense and progressive propoganda.