Just plain SUCKED.
Everything about it from the writing, directing, acting, pacing, tone, on down to the cgi bear. With the exception of Rick Baker's "Wolf Man" design, it all sucked.
All these threads on this board proclaiming it as some underrated masterpiece are a bigger joke than the film.
If this film is "un" anything, it is undeserving of the title of The Wolfman and any connection to the classic Universal monster legacy.
Perhaps, if the film had a 2.9 rating and was compared to the likes of The Asylum's Battledogs, it could be called underrated.
Know what I mean?