I felt that the central theme that the movie had to offer was the realization that Hal didn't need to be fearless, but rather that he could have fear if he could overcome it. This realization should have occurred exactly at the climax of the film, but alas this realization was dispensed with before the climax, which instead was just a light show with zero emotional impact. The idea that Parallax could be so easily destroyed also made no sense. In addition, I felt that the whole last act was padded out with too many throw-away scenes hinging on clichés, like the smooch before the final battle and the everybody-clear-the-street scene.
Yeah Hal's fears and doubts were handled pretty superficially, but I thought the movie did just enough to make me care about and root for him when the final battle came-- and as Parallax pointed out, he was still struggling with his fear all the way through that. Which is what I thought made the battle (as brief as it was) so exciting to watch.
It didn't feel to me like everything was settled beforehand and he had already "conquered" all his problems.