earlier review) and this is a transitional form - some distinctly modern elements that don't fit with the earlier James Bond (M is a woman - Judy Dench, the locations are not so glamorous, Bond's relationships with women are less casual and more caring, etc).
But the politics are still more Daily Mail/Telegraph than Guardian; the baddie is a rogue agent turned against MI6 because the service sold him out to please the Chinese government and thereby ensure a peaceful transition in Hong Kong. In fact given that he's a lone rogue his power and influence, and the resources he can command, seem implausible - not that anyone cares about that sort of thing in a Bond film.
It also sets up the scenario for the next film, with Bond's upbringing in a remote house in Scotland, and a bit of a 'bureaucrats want to close down the field agents and replace them with technology' story line.
More watchable than I expected, and the filming in Scotland was quite beautiful, at least until it gets all shooty.