I found it a bit of an oddly strung together hour or so, with lots of episodes broken up with scenes of real kids and animation combined - but then it wasn't really aimed at me, and the kids at the cinema all seemed to enjoy it, and stay engaged to the end (no mean feat at that age).
Is it money for old rope? Maybe. Did it feel at one point like an advert for the cinema? Yes. But it served up over an hour of what the kids liked, a new experience, and an hour for me sitting down eating popcorn, for a fiver a head, and I don't think that a slickly produced movie with a full length storyline would have achieved the same.