It has the space battles, sure. It also has a villain with an unbelievably nonsensical motive, and the story is absolutely ridiculous.
Sounds alot like Star Trek 2009!
Well, I'd argue that while Nero's motives weren't made terrible clear in the film, and while he may have gone overboard with his plan of destroying Vulcan and Earth, he was pretty much driven mad with grief and a lust for revenge. He was also a patriot and was trying to make the Romulans a great empire without the Federation and Vulcans standing in the way. Granted, a lot of this you don't know unless you read the "Countdown" pre-quel comic, which is unfortunate. While I loved the new movie, I thought Nero was a very poorly-defined villain. However, I have so much fun watching the rest that I quickly forget about it.
Shinzon's motives were simply ridiculous. He wasn't a Romulan patriot. Hell, he fucking hated Romulans. He never hated humans. This would have been far more interesting and logical if Shinzon had been attacking the Romulan Empire and the Enterprise had to stop him, rather than just deciding to blow up Earth because he was cranky.