I might have had unrealistic expectations, I had just seen Mad Max the day before in the theater, and re-watched John Wick last week too. It doesn't hold up well when compared to those, although to be fair, few movies do.
I honestly had no idea about the "tone" of the movie before I watched it, I expected straight-up Bond/Bourne type drama & action and was thrown for a loop by the irreverent humor(which I also didn't find particularly funny, so it seemed like a waste of time).
Someone mentioned above that it's a spy movie in the vein of the Shaun of the Dead/Hot Fuzz movies with that type of humor. I'm probably in the minority here but I don't think those movies are very good either. Decent, with a couple funny moments, but nothing worth watching a 2nd time. Had I known that going into Kingsman, I probably wouldn't have bothered. I generally like Matthew Vaughn though, I loved Kickass and Xmen 1st class, this one missed the mark for me though.