Kong is bigger, and the cast is full of big names, but everything here is a step down from Peter Jackson's film from a decade ago.
The action scenes are forgettable, the character deaths ridiculous, and the emotion lacking. The sole purpose of this film is, unlike the traditional story, to keep Kong alive so he can take on Godzilla later. Setting aside the problems with attempting a shared cinematic universe, this approach takes everything out of what made King Kong so iconic.
The visuals are (sometimes) great, yes, but great visuals are fortunately the norm these days. So given that, if it succeeds, the Monster Cinematic Universe won't be in swing for some years, you can give this movie a pass.