Welp...let’s focus on the positive.
The effects are absolutely top notch. The creature design is also spectacular. Mothra and Rodan, in particular, are not easy to pull off and they nail it. $200M budget and they spent it wisely. This is light years ahead of half-ass trash like Justice League or Jurassic World.
There’s also some fairly clever world-building going on. Although it’s a lot to digest early on...big info dump for the first 30 minutes or so.
A good percentage of the score is vintage/classic Toho stuff and it works...very strong.
As for the bad? Look, this is a silly movie. The script, the casting, the acting...all kinda silly. A mix of the first film and Pacific Rim but darker. Temper your expectations.
If you like Godzilla movies, you’ll enjoy yourself.