Love me some Keanu, but they really need to try and actually have a script this time.
No story, no motivation, no dramatic tension, just a string of admittedly well put-together action scenes. Its just not enough, especially when the action itself gets somewhat samey and repetitive after awhile.
The Night Comes For Us is a great example of how you do it. The plot is minimal, but its just enough to put all the key players onto clear motivational paths and as those paths converge you get enough drama to keep things engaging.
The action itself needs to continuously ramp up as the movie works towards its conclusion, whilst not devolving into variations on the same setup.
Truth-be-told there seems very few people around these days who are able to choreograph and edit action/fights as well as in the heyday of HK cinema where big action set-pieces actually told stories through pure physicality.
Go watch the highlights of John Woo's best stuff, or any of the classic Jackie/Sammo/Yuen kung-fu sequences. There's real storytelling in them, not just strings of flashy moves and stunts.
Its funny, its the same disease that's come to afflict pro-wrestling; thinking that sheer effort and athleticism is a substitute for knowing how to work the audience. The Raid movies are kind of the perfect example of this fallacy in the action genre, all the stuff in there is truly great and you have to admire the sheer skill with the way its edited and performed, BUT, it gets kinda samey after awhile. Mainly as a result of the pacing being set a constant fever pitch.