I thought it was a good movie. It was an origin flick and it set out to do it and did it well IMO.
It was pretty terrible as an origin movie, actually. It assumes you've seen the previous three X-Men films and does nothing to establish mutation nor even set up Wolverine's healing factor or animal senses. We're just expected to know all this. You can't actually show this as the first Wolverine story, because it would just be a wall of noise to the uninitiated.
The biggest problem for me is that the characters are all empty ciphers rather than human beings. The original movies worked because Logan, Rogue, Magneto and Nightcrawler were written and played like fully fledged characters from a proper drama. This was even more important in a movie anchored by a single character, but instead we get cartoons. But to be fair, maybe I would have loved it in junior high.