I thought the film was fairly disappointing.
Which is a shock for me to admit because I'm actually a fairly big fan of Tony Gilroy. When he was first announced (as this thread suggests), I was very supportive of Gilroy writing and directing this installment. If they had to get someone to replace Paul Greengrass and continue the franchise, Gilroy would have been my top pick.
However, The Bourne Legacy just ultimately felt very unnecessary, similar to how I felt for most of the blockbuster movies that came out this summer (i.e. Prometheus and The Amazing Spider-Man). I think my biggest complaint lies within the actual story itself, which isn't nearly as thrilling or captivating as the stories for the previous three films. What kept the first three films so engaging was Jason Bourne's personal journey. He was trying to uncover who he was, and that was a very thrilling and emotional character arc. When his story was resolved and wrapped up in The Bourne Ultimatum, it felt like there really wasn't anywhere the story could go.
The Bourne Legacy tries to argue the opposite, but unfortunately it loses that argument. Even though Jeremy Renner is very charismatic as Aaron Cross, his character journey just isn't as interesting or as involving as Jason Bourne's. He needs to find some pills and that's it. Now that he's done that, where does his character go? Quite frankly, I couldn't care less. Legacy also has one of the most anti-climatic and weakest endings I've seen in a mainstream film in a very long time, BTW. Anyway, that's not to say that Legacy isn't a complete disappointment. The cinematography is the strongest of the franchise, and Gilroy achieves some really sweeping shots that are lush and gorgeous. The film has some solid performances, even though most of the supporting characters feel useless. The film's most successful and tense moment lies in the lab sequence, which had me on the edge of my seat the entire time (which is kind of cool for a series that depends on getting its thrills from foot and car chases), but other than that, the action felt very perfunctory on a whole.
I have no idea what went wrong with The Bourne Legacy. It had a lot going for it. Tony Gilroy proved he was a masterful filmmaker with Michael Clayton, and he cast some excellent actors all around, but overall I just couldn't get invested in the story. It actually sort of soured my appreciation for the series a little bit. I really have no desire to see another Bourne movie, at least not involving Gilroy or the Aaron Cross character. However, I'd like to see another movie if anything to resolve what happens with Pam Landy, Joan Allen's character. I thought it was kind of crappy how it appeared Landy's character was going to end up, even though I'm sure that was the set-up for another movie. It just felt cheap, and ultimately, unnecessary. Much like the movie itself.