To my complete lack of surprise, it was pretty bad. There were more jokes than I expected, and they were fairly successful. A few decent action scenes. But it was dramatically inept, mostly rather poorly-acted, and never as exciting or visually striking as it should have been. The two biggest "they just didn't care" aspects - Gerard Butler, as Set, spends about half his time onscreen speaking in his natural Scottish accent, and some of the visual effects are clearly unfinished.

As to the gods themselves, Horus and Set sometimes "transform" like tokusatsu heroes into metallic versions of their traditional depictions, and they look pretty cool. For whatever unimaginably stupid reason, Ra, who appears mainly as an old white guy, transforms into... a scaled-up old white guy, on fire. It looks impossibly stupid and I can't imagine any reason for it besides budget limitations. The other gods in the movie never transform. The biggest pleasant surprise was that Anubis is in this as a fairly faithful depiction of himself, never human OR metal, always, well, an anthro jackal. His role is minor but important and manages to avoid embarrassment. Also amusing to note that Isis is (briefly) in the movie but they go to pains to never mention her by name on account of the terrorist group. Instead, Horus just calls her "my mother."

Not worth seeing in theatres (which the public clearly figured out given how hard it's bombing at the box office) but if the morbidly curious want to check it out on home video / on demand, there are worse ways to blow two hours.