I can think of plenty that makes it a bad game:
Difficulty spikes, forcing guns off/on you due to cutscenes, rail sequences, hypocritical dialogue and story actions (the most obvious example is the scene where max is like "i'm so clumsy" and immediately does the most acrobatic shit ever when he shoots a rope and is pulled up three stories on a pulley while killing dudes before landing at on a platform up top), a convoluted forced feeling grimdark plot, badly done checkpoints, forcing you to die even though you have painkillers just because you can't shoot through a wall and hit the enemy who was shooting you because you fell over (the worst part of that is you see your hopeless situation in slow-motion), and an overabundance of cutscenes.
What is great about the game are the core shooting mechanics. Quite frankly, they're amazing (barring the aforementioned "last stand" thing), and really satisfying. I wish I had more opportunity to play the multiplayer and the other modes so I could experience them more.