My friend who saw it at SXSW's problem with it was that it felt a bit bland and toothless compared to what he knows Morris is capable of - even when doing something more "accessible" like Four Lions. My guess is it's fine enough on its own merits, but significantly less impressive than we've come to expect from Morris. Kind of like the post I made about Mike Patton earlier - it's not that any of his work now is exceptionally bad, just fares poorly in comparison to the high standard he set for himself/his audience in the 90s.
There's also something to be said for the difference in the entertainment climate between 90s Channel 4 and now. In the 90s, Channel 4 was pretty willing to accept new and "edgy" stuff, aware that they were the punk-rock entry of only 5 available channels (for a lot of people at the time). That climate allows something like Brass Eye or Jam to flourish. With both TV and moviemaking now, it really is about appealing to the widest possible audience within your broad or potential demographics. A truly unique idea from Morris now probably wouldn't get all that far, realistically, but if he can prove that US audiences will go and see his films with something "safe", that perhaps allows him some creative playroom in the future. That's what I hope for, anyway.