Watched it earlier, thought it was fairly decent. There was certainly more fighting in it than the DMC anime, but I figure it comes down to this:
-DMC was a 12 episode anime that focused on the more day-to-day goings-on in Dante's life, such as the far more mundane battles with lesser demons, and his interactions with select people, while building up to a semi-climactic showdown (For all the ways it "could" have been better, I still love it, baby).
Bayonetta was a movie nearly set up exactly like the first Bayonetta game, and well...movies typically tend to get better funding, right?
The action was pretty good, and despite it feeling a bit more sexual than even the game comes off as, I didn't mind it so much. Some of the humour was alright, and I think I actually grasped the plot a bit better than I did from watching the game's cut scenes.
Not the best, but certainly far from being the worst anime/movie I've ever seen.