If you have seen the first G.I. Joe film, you shouldn't really have high expectations in the sequel. Half-ass in, half-ass out, as it were. Unlike the first, the sequel was plagued by productions issues that delayed the film for months on end, and honestly... the wait was not worth it.
Now, don't take me wrong. The film is worth an afternoon. Guns, explosions, silly one liners, bad jokes, and more guns. If you like such films, it is a nice way to waste roughly 2 hours. But, if you like such films you know you aren't getting much mental engagement or anything resembling character development or story. It is what it is and doesn't try to be anything else.
Now, for my weak point. I am a sucker for a good sword play sequence and I must say, the scenes between Snake Eyes and Storm Shadow are certainly a redeeming quality in this film. Not the best I have ever seen, but the sword fights (especially the short one in the hallway) are a nice little treat for the eyes.
Rent, yes. Netflix, you bet. Buy, only if you really want to.