It's better than Degeneration in every way.
They definitely learned from there mistakes and improved upon the pacing this time around it's not perfect but it's definitely more consistent than Degeneration, the enemies (Lickers) are actually pretty terrifying, their quick, agile and can tear through a group of heavily armed men in a matter of seconds.
The characters all have nice distinct personalities this time around Leon isn't a stiff emotionless in this one and actually has a bit of his Resident Evil 4 personality back, Ada is in full blown Nikita mode as usual playing both sides to her advantage while simultaneously flirting with Leon. And the antagonist of the movie actually has a strong presence this time around and is more than a match against the likes of Leon and Ada.
The animation, music, and fight scenes (especially the fight scenes) blow Degeneration's out of the water and the story not half bad either certainly better than it's live action counterpart -_-.
All in all pleasantly surprised by this movie.