My problems with this movie are not any of the ones listed (that I have read).
In no particular order:
--Picard is not himself. He has had a chance several times in the last 4 years of the show to show the viltrolic animosity of the Borg and he failed to do it each and every time. This is not a case of being the pressure-cooker, either. He is like this from the word go in this movie. Picard is a diplomat with a humanitarian streak that borders on naivete. For him to storm around shooting his officers, acting like he's damaged by the borg is not like him. I saw no humanity in him in this movie and this is Star Trek. Starfleet is about defense, eliminating an enemy only when they pose a risk to yourself. Picard is out for revenge and enjoying every borg he kills. Please, save any speech about how he was assimilated. I know. Try watching the scenes in his ready room in Descent or his interaction with Hugh. You'll see what I am talking about.
--Every single time we have a time-travel episode, we do everything we can to eliminate pollution to it. It's the challenge, the tension of a lot of Trek. "Will this change the timeline? How can I restore the timeline?" And in this movie, we tell unimportant details (like the statue) to make conversation with Zephram Cochrane. We are in the pod, we do the countdown. TNG characters are not making sure everything goes according to plan, they are nurse-maiding Cochrane through this process. It's ridiculous. And more frustrating every time I see it.
--The Borg Queen ruins the Borg. This is supposed to be something that can't be reasoned with. Assimilating Data is a nice idea, but the seduction of him to the dark side is not possible with this enemy. If we could reason with it, they wouldn't be scary. They just keep coming and coming until you surrender. That's what made them a unique character. Suddenly, the Borg queen is everywhere. It's the internet, not a beehive.
I don't like that there's no journey in this film from a Star Trek morality play. Yes, we are told what Cochrane will be one day. I want some more meat from this film and it offers me a zombie picture. This isn't good Trek, it's good science fiction. An example: The Motion Picture is about the human quality, the search for something greater than ourselves, for fulfillment. II is about dealing with death. How it robs Khan of his sanity. How Spock offers it as a gift. It is also about the science/military relationship and how the advancements in technology often lead to the best war weapons. And Khan plays the typical leader to to a T. There's rich themes in this that talk about. That's what Trek is all about, it's what sets it apart from Science Fiction. Name me the theme in First Contact.
Not just a flawed movie, but one unworthy of the franchise and I cannot believe people continue to hold it up as a great Star Trek film.