Nope, it's likely not has good as any random Shaw, Chang Cheh, movie you could name and doesn't really find it's feet until the action moves to the castle. It's another revenge plot. The locations make you wonder what Chang Cheh could have done with them back in his hey day when he had the full backing of the Shaws behind him.
The ninjas are mostly ciphers defined by their elements except for the two young ninjas Metal (white) and Water (black). The villain was no monster, though he deserved what he got. Live by the sword... The fights are good (mostly swordplay), with an emphasis on acrobatics. Perhaps, only for completists.
5/10