Maybe this counts as bad taste. I think it's good taste, but I'm so outnumbered by folks who differ.
I hated the original Matrix when I saw it in the theater. It took seeing Matrix Reloaded to turn me around on the entire series. I loved loved LOVED Matrix Reloaded. It's just a blast from frame one all the way though to the end. I love the wire-fu, the outfits, the villains, the Yoda-like obscurity of the Oracle. I love all the fights, even the much maligned Burly Brawl makes me chortle with it's ever-escalating difficulty for Neo (I think it's a deliberate attempt to address the cliche that when a hero has multiple opponents they will attack one by one).
Oh. I love the Twins, and Persephone, and the Merovingian and his farty frenchiness. I love that Cadillac that Trinity drives. I love the car flipping mayhem of the highway sequence.
I also like Matrix Revolutions: I dig Link's arc with his girlfriend waiting for his return, I love the brutal and bloody fight with Smith as Neo and Trinity fly towards the machine city. I love the moment when the vehicle pierces the cloud cover and sees blue sky for one moment, and Neo's final fight with Smith in the Rain (esp the crater scene). I love the heroic funeral barge scene (made me sniffle up) among the machines, and the magic sunrise at the end. (Oh, and I also love little Sati and her family, and the Trainman).
In fact, the first movie is still my least favorite of the series, even though Reloaded and Revolutions have seduced me into liking it better. I think it's because I was always uncomfortable with the Columbine High School vibe of the first one, the a-moral "beyond good and evil" attitude towards blowing away civilians (yes, civilians are being slaughtered in the highway fight in Reloaded, but it isn't so brutally personal there ... in THE MATRIX normal humans with faces are brutally blown away by the good guys using guns, and I find that disturbing). I also don't like the freak-show club scene in Matrix ... one thing I don't like about REVOLUTIONS was a rehash of both the Columbine High School vibe when Trinity and Seraph shoot up another lobby, and the freak-show leather club scene, when Trinity and Seraph crash the Merovingian's party.
Oh, and the Rave scene in RELOADED? Doesn't bother me.