Is this movie (and the sequel) actually good?
When I first saw it, I didn't think so. I thought it was kinda cheesy and foolish. Fun, but not really anything special. I was also annoyed that they were ripping off the Matrix, with no explanation as to why.
However, after watching it I was struck by one scene in particular, the one where we find out that the guy who was kidnapped is actually the villain. That was unexpected, and creepy. I haven't seen many scenes like that, where they totally alter the mood right in front of you (and the protagonist) like that.
Beyond that, I have watched the sequel and I think it is even better. Demi Moore is really good, and that scene where she burns down Charlie's office is devastating. I also really liked that scene up on the roof, with the song and all the gangs coming. And the Slim Man is a great villain.
So, in sum, I'll say these movies were a lot of silly fun, but with something good behind them. I can't quite define it, but I like it.