Let me start off by saying that this is not as good as the first Underworld movie and I think that, generally speaking, they have decreased in quality over time. But that's OK as the first Underworld movie wasn't very deep. We have known for a long time that the Underworld movies are titles where you're supposed to check your brain in at the door, relax, and enjoy the mindless action of vampires and werewolves fighting.
That being said, I did find some issues with this title even when compared to the previous one. I will go over some things but try not to mention specific characters. Either way: spoiler alert. My first big issue is one of the main characters essentially dies off-screen. Great, they hyped it up at the end of the last movie and they went nowhere with them. The second issue is that the plot is extremely predictable. I saw the betrayal coming from miles away as soon as the agreement was made. Third, they made Selene out to be this all powerful vampire at the end of Underworld II (and mainly throughout Underworld IV) but they scaled her powers back for this movie only for her to gain God-like abilities in the end. Lastly, Selene has been turned into an emo-goth vampire lacking any feelings, emotions, or even intelligence. She goes through the whole movie plowing over everyone without thinking twice.
I'm also disappointed with the video quality. It looks nice but most of the scenes are extremely dark. I had to close all of my curtains and turn off the lights just to watch this movie. It feels darker than the previous ones and I think it was done intentionally to contrast more with the lighter scenes. Either way, I'm not a fan of this decision. The audio is surprisingly center heavy with very little of the surround being used. The actions scenes are great and really shine, as does the audio. I could hear lycans growling and charging behind me, bullets flying over my head, Selene running around me, etc. The action scenes are the true stars of this movie. There are very few special features with this release and the ones that are included are rather short. It's a shame really as the first Underworld movie had a ton of special features. This one has about 30 minutes of special features in total, that's a shame in a movie like this (it being the 5th in the franchise and having a bunch of special effects).
Underworld fans, like myself, will still find this enjoyable. It's not as good as the previous releases but it's still fun. I had more issues with the plot this time around and the casting aside of one character, with their death, is inexcusable at this point. But the action scenes are solid, the steel book is really nice, and the setup made me excited for the next entry in the series.