I expect two major things from a Robin Hood movie: (1) archery, and (2) outlaws. This movie had three scenes of archery, two scenes of outlawry. It had a lot more scenes of people riding around on horses in chain mail.
It's possible that I would have liked this a lot more if it were titled, say, "Robin Loxley". Then the bits about having a friend named "Little John" and a friar named Tuck would seem like winks that said "Hey, this Robin will become Robin Hood." As it was, I wanted more than winks to make me believe that he was Robin Hood.