Matrix worked at the time because it had a lot of unique visual elements and cyberpunk as a genre had not made it to the masses yet (or at least not since the original Blade Runner) in anything resembling a good movie. I really think it was one of those "at the right place at the right time" movies. I would actually toss the original Jurassic Park in the same category, where wathcing it now things like the kids being deathproof and Nedry's poorly considered heist plan kind of stick out as being bad. Both are good movies, but they are not rewatchable masterpieces like Fifth Element, Mars Attacks, or 12 Monkeys.