Depends if you're in the mood for a comedy. It's a spoof of a spoof.
The writers were trying to pay tribute to the original bond films, and succeeded in creating a parody- of Austin Powers.
The first thing everyone mentioned after watching "Spectre" is Dr. Evil. (which was immediately followed by someone mentioning that Austin Powers was a spoof of 007- yes, we ALL know). If you actually stop and think about the plot, It's difficult NOT to make the reference.
(FYI- if you cut down the 2.5hr movie to just scenes that advance the plot, you'll have less than 20mins.)