My dad, massive action movie buff, hired this out as a zone-out, fight movie. I sat down to watch it with him because I had nothing better to do. I spent the first 20 minutes trying to figure out if this was a joke or not. Apparently they want you to, at least pretend to, take it seriously.
Basically, the hero, a reformed Robin Hood-esquire thief, was betrayed by his partners and now is being hired to retrieve a seal, which they had stolen. The movie follows this hero, as he goes around beating up groups of stereotypical minorities, until he defeats his insane nemesis.
I spent the whole time laughing at how utterly terrible it was, yet I enjoyed myself immensely. It's worth a watch, just for the ridiculousness of it.