Space Battleship Yamato before it, Attack on Titan is another live action reincarnation of a veteran anime story. This time around, the humans who live enclosed in a walled society, never venturing outside those walls, find their lives as they know it coming to an end when a race of giants - titans - breaks through their defensive walls and starts eating people. The survivors take shelter behind an inner wall and prepare to counter attack.
So yes, Attack on Titan is your classic made in Japan anime live action remake. It sports good production values and acting which I can only interpret as bad but which I suspect people actually familiar with Japanese culture would find authentic.
While technically impressive, the plot and character development feel hollow, probably the result of trying to cram a whole season worth of manga series episodes, contents wise, into a single movie. Making things worse is the ending that is not an end, setting the scene for a sequel.
Overall: Would I watch the sequel? No; as technically impressive as it is, Attack on Titan is far from a good movie. At 2.5 out of 5 crabs, it is only worth watching for Japanophiles.