As for the hype, well actually the hype almost worked against it, there was a massive backlash in the two weeks running up to it's release and certainly me and my girlfriend went in expecting the worst, to be really pleasantly surprised by not only it's aesthetics but the not so "sub" political subtext that has a lot more balls than 99% of pseudo critical War movies.
Sure it has it's tripe Noble Savage, at one with nature cliches and predictably sticks to the standard "Hero" narrative and the inherent structural privileging that implies ie the "human" lead doesn't simply join the Na'vi but ends up leading them, but to focus on these obvious failings universal to almost every mainstream movie is to miss the many ways the film stands out, for example;
The typical role of the noble savage as providing another perspective on our societies, and in doing so acting to actually improve their functioning. Instead the role of the noble savage is total in this film, the lessons can't be simply be assimilated into our society by just taking a few platitudes from here or there and sticking them in a corporate mission statement or whatever, instead it requires a complete and violent break with our society, indeed the lead character gives up his crippled and alienated human body.
The film has the balls to totally pick a side, to reject any pathetic liberal handwringing, wavering or humanisation or justification for the individual motives of those on the companies side. Anyone used to American anti war movies knows that primarily they are about American tragedies, they we are meant to empathise primarily with the pain and anguish the war inflicts on the American pscyhe, with the hundreds and thousands of dead civilians and enemies a prop for indulging the self pity of the US.
Another thing in this film is the complete lack of 'civilians' as such, there are no good innocents who are caught up in a war between two sides, there are no good innocent peaceful Na'vi opposed to the violent, insurgent Na'vi.
Avatar is the closest Hollywood will ever let you get to cheerleading the US military getting it's fucking balls rolled and sure that doesn't make for perfect communist politics, after all I'm no big fan of third worldism, it certainly makes it more gutsy than 99% of films and pretty refreshing for a Hollywood block buster action sci fi.