My main complaint with this movie (spoilers)
Any time you have a fraternity in a movie, it seems like you have two options. Either the fraternity is evil and lame (and usually the "top frat on campus"), or the fraternity is cool and fun. This movie depicted a frat of the latter variety. Efron and Franco come across as genuinely good guys, their parties look fun, and they generally convey a positive vibe. They are effervescent. So the conclusion of the movie, where the Radnors "win", ultimately feels anticlimactic. This could be seen as a metaphor for the inevitability of maturation in one's life, but it ultimately leaves the viewer with the feeling that the plot ends too abruptly. We grow to like the fraternity as a character, and don't get any resolution to its story. It's disheartening.
The movie has some laughs, but the plot is too shallow. It feels underdeveloped and rushed. There's also not enough variety in the scenery, which makes it feel small.