If you come solely for the chariot race, you will not be disappointed. The rest just kind of exists, with some sporadic moments of entertainment as the film basically exists as a modern, truncated version of the 1959 epic. While it does pleasantly tackle the pretty straight-forward and obvious themes with one and a half hours less of screentime, it does beg you to justify its existence throughout.
High quality editing and set design, but there is no basis in history. If you have already started to do big-budget movie, you have to consult with historians to be historically accurate. It's the biggest criticism of the film, otherwise acting and the rest is for 3.5.