This version of the golem story has some advantages over the 1920 Paul Wegener film. While the original must remain the best simply out of respect, this film has introduced sound, a much more fluid camera, and odd angles that would make a German Expressionist blush -- and this is France with director Julian Duvivier at the helm!
The golem itself is a different sort of creature, less clay or stone and more of a robotic, steel beast. Not as heavy-set, and with decidedly more human movement through use of his arms and legs, removing the lumbering gait of the older version. I do not see this as an improvement or a step back, but an entirely new scenario.
The political message seems to be different, too. While the Wegener film has a Frankenstein-like message about creating something you cannot control, the story is a bit twisted here. The film says, explicitly, "Revolt is the right of the slave." People could draw a variety of messages from that line alone... I will not offer examples, as they are obvious enough.