Matrix was fantastic, a true trend-setter. 3 was much better than 2, but both suffered from sequelitis. The great thing, imho, in the first was that you could almost imagine that something like the Matrix could actually exist, or that we are a part of it.
The second two had none of that. You became more and distanced from the main characters. In 3, the most "human" characters were the family talking to Neo in the train station.
The special effects were awesome, but the machines won in real life with CGI overcoming the human elements that truly made 1 a classic.
I loved Agent Smith in 1 and 2 but other than the fight scene, he became too over-the-top.
Morpheus became Lando Calarassian by 3, what a waste of a great character. Heck, even Neo didn't seem to have as much screen time as Niobe.
And the Merovingian also seemed an afterthought in 3, and Monica Belluci should have been given much more screen time with that amazing outfit of hers in 3.
The final theme was very interesting: Humans needed to the machines to live and the machines needed humans to live and both sides had heroes and villians, but the point became too muddled with the jumps and reliance on CGI (and here, once again, I'll say I didn't dislike 2 and I enjoyed 3, especially what happens to Neo).
And finally, I enjoyed both the first couple of seasons of Sopranos and Sex And The City until they jumped the shark.
Rant over [fin]