It seriously isn't that bad-in my experience, anyway.
Despite the mostly negative reviews and even worse comments, I decided to buy this game after watching and totally loving the movie. I did enjoy the game quite a bit, and I think much of the criticisms I've heard and read about, what with the camera, targeting system and etc. are blown out of proportion.
Now, I'll admit that the camera could have been improved, and it makes driving harder than it should be. This is one thing I agree with. My first time driving a tank was a nightmare, to the point where I was hoping for an excuse to ditch my vehicle. The targeting system also can be annoying, since it locks on to any nearby object. Thus, you can end up shooting an explosive oil barrel or a score enhancing cube while getting cut down by Vipers, B.A.T.s or tanks. But, I believe it is possible to get used to. On the other hand, the arcade-like run and gun gameplay is quite fun, and when you're up against several enemies or a boss, it is exciting.
The other main thing I like about the game is the wide variety of characters (12 Joes and 4 Cobras), each with unique abilities. Unlocking your favourites by earning points gives you something to strive for and increases the replay value of the game. The unlimited lives on the default, 'casual' setting makes this very easy for beginners, however dying will cause you to lose points, and in order to rack up the highest scores you'll have to turn to the harder difficulty settings (and try harder to stay alive), presenting more of a challenge.
The game isn't the longest, but it isn't too short either. The graphics, maybe relatively primitive on next-gen consoles like the Xbox 360 or PS3, are good for the PS2 (and adequate in general, I think, for the game itself).
The bottom line: G.I Joe: The Rise of Cobra seriously is not as bad as it's cracked up to be. This will probably be a fun experience for G.I Joe fans and fans of arcade-like shooters. However, I do recommend that any players who like to rent games do so first with this one, just in case.