Marvel's first R-rated film in the MCU, Deadpool and Wolverine has Ryan Reynolds and Hugh Jackman team up to save "a" world. As indicated in the trailers and countless teasers, Wade Wilson's world is going to be ripped apart and he needs Logan aka Wolverine's help to save it.
In his world, Wade Wilson, now a car salesman, gets recruited by the Time Variance Authority to save his timeline and his world. He teams up with Wolverine, and chaos ensues. The story involves multiverse shenanigans, plenty of fourth-wall-breaking, and a healthy dose of nostalgia.
What works
Hugh Jackman returning to play Wolverine is the key highlight of the movie. Dude was born to play that character. He could play that part in sleep. No doubts there. He does complete justice to the character. And the yellow suit is "chef's kiss".
The movie keeps poking fun at superhero tropes, Marvel's own history and current multiverse saga. Ryan breaks the fourth wall several times to humor the audience on several Marvel-ous affairs including the Disney-Fox merger, Hugh returning to play Wolverine and Paul Rudd among other topics. As expected from a Deadpool movie, the film's self-awareness and humor land well.
Being marvel's first R-rated film in the MCU works well. This is the first MCU film where the f-bombs are thrown around more than the punches.
What Deadpool and Wolverine also gets right is that it does a better multiversal story than the Doctor Strange sequel. This movie was an actual Multiverse of Madness.
There are many cameos in the movie that are both hilarious and sometimes meaningful to the plot. This is a no-spoiler review, but if you want to, you can check out the list of cameos here.
What does not work
It is very unusual for an MCU film of this scale to feel dragged at some points. But, this one does. Some acts added very little to the story. The pep talks and emotional speeches used to justify any character's "change of heart" feel pointless. Because you know what's going to happen in the next scene. Motion pictures have evolved for over a century now and everyone is well aware of this usual setup.
The "bad guy" of the movie Cassandra Nova, played by Emma Corrin does not have a well-executed character arc. There is not enough screen time for her character to be developed or matured. Her character's decisions and moves in the second half of don't connect well.
The film has some other plot-lines that could've been shaped and progressed better. The big fight sequence towards the end feels futile by the context that follows it. And it is the story that is to be blamed here.
Overall conclusion
Deadpool and Wolverine is a wild ride that does a genuine attempt to breathe new life into the superhero genre. It's not perfect, but fans of the characters and those who enjoy meta-humor will likely have a blast. The movie serves its glorious purpose. Reviews are mixed but generally positive.