This might sound pretty controversial...
but I think this movie is underrated. Yes, it has problems as an adaptation and it could've been 40 minutes longer, but everything else was done very well.
The casting choices in the movie were pretty spot on considering I later read the book. Sam Elliot, Ian McKellen, Ian McShane, Nicole Kidman, and Daniel Craig were very good in their respective roles (although it's baffling how underutilized Daniel Craig was). Also, it was interesting to see that Derek Jacobi and Christopher Lee were in the movie as well (too bad they only shared one scene together. Guess the producers wanted to save them for the sequels that didn't happen considering the movie became a domestic flop). I even thought Dakota Blue Richards did a decent job as Lyra. Yes, I'm aware that certain people have criticized her performance, but to my surprise, upon reading the book, she captured the personality of Lyra very well. Not to mention she held on her own with the other actors.
Plus, the cinematography and the music... nothing short of excellence. Hear me out. The HBO TV series is infinitely better. I just wished that had the movie been handled better by the producers, it wouldn't have flopped domestically and would've gotten adaptations of the two sequels. Feel free to respond if you want to. I'm not forcing you too.