Saban has already said he has 6 (or maybe it was 5 to make 6 in total) more movies planned just for this arc, it was clear they went into this to play the long game and made this a very long origin story with a bunch of world building, setting up the zeo crystals for example. It's just a shame that in doing so they may have hurt their chances of future movies by not putting enough power rangers in Power Rangers.
To my surprise it was the character stuff that worked best. Trini and Zack were probably the least fleshed out but were still serviceable, although Zack's "crazy girl" and "I'm crazy too" talk could be irritating. Every ranger and even zordon had some kind of arc to fulfil in the movie and their fair share of emotional beats, which I found to be quite effective. The rangers needing to learn how to work as a team before they could morph was also a nice twist and came together brilliantly. I'm just going to say they put more effort into the character aspect than they needed to for a Power Ranger movie, and the result was a lot better than it had any right to be for a Power Ranger movie. The training montages were great, the campfire scene did everything it needed to and more--it would have been easy and lazy to have them morph as soon as they share their secrets and have a quick action scene--and by the time it finally came to them gaining their suits I actually believed they'd become friends and the entire thing felt earned.
Rita was kind of scary in the first half of the film, with her early scenes being something out of a horror movie. Elizabeth Banks played her with the right amount of camp for it to work in the tone of the movie but also be recognizable as the character from the show, despite all the changes made to her.
I thought the ranger action was a mixed bag. The brief underwater and mountain fight against the putties was great, and the individual zord scenes did their job but the megazord fight was a bit of a let down, not only did we not get to see the zords combine but the fight wasn't as exciting as it could have been. I will say that the bitch slap callback took me by surprise and saved the scene for me.
I love the new suits now but the zords, Goldar and Alpha all look horrible. But other than that, this was a film that wasn't only entertaining but legitimately well constructed. It wasn't high brow art, but the script was almost masterclass in how tight it was, almost everything had a role to play and connected nicely with a few good callbacks that cement the characters personalities. The only thing that let it down in that regard was how finding the power coins and Rita awakening didn't have anything to do with each other, it coincidental, unless I missed something.
It may not be a very accurate depiction of Mighty Morphin Power Rangers, but the people involved clearly understood and respected the lore and took some good steps in updating it for the big screen. This was a great film and I can't help but feel that the only reason reviewers aren't praising this movie as they would a Marvel movie is because they feel that the Power Rangers brand is something to be looked down on, even the better reviews have the attitude that it was good "for a power rangers movie". I mean this had way more strengths than any of the MCU movies and at worst only shared the same problem as they do in that the villain work could have been better and they could have had a more climactic battle. This was easily one of the best superhero movies made, even if that was a low bar to reach.