The Old Guard works best as a nostalgic throwback to turn-of-the-millennium action movies, and struggles awkwardly when it tries to be a modern superhero blockbuster.
The Old Guard is adapted by writer Greg Rucka from the Image Comics series that he created with artist Leandro Fernandez. The story focuses on a group of immortal warriors who have worked at the margins of human history for centuries, making small differences wherever they can while trying to stay out of the spotlight. It’s a pretty solid premise with a lot of narrative potential, and it could easily branch in any number of directions.

Immortal narrative engines.
The best and worst thing about The Old Guard is that it insists on branching in various competing directions. It often feels like three or four different movies that have been edited down into a fairly conventional and generic structure. By turns, The Old Guard tries to be a character study about the weight of immortality, a franchise-launching origin story, a criticism of modern hyper-capitalism, a solemn meditation on what it means to do good in a fallen world, and an old-fashioned kick-ass action movie with a pretty neat soundtrack.
To the credit of The Old Guard, it manages to avoid embarrassing itself too badly while trying to serve all of those competing impulses. However, that balance comes at a cost. None of the central ideas in The Old Guard are ever truly explored or developed, because that might mean that some other angle would get a short shrift. The result is an action film that is largely functional, which isn’t entirely satisfying but is also never completely frustrating. It’s a solid and sturdy film that largely avoids a potential identity crisis by declining to commit to a single identity.

An axe-soldier.
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