This remindes me of the Shaw Brothers classics or generally the movies from the 80s. There's a lot of characters a lot of deception, a lot of development ... and a lot of fighting too. Some may seem ridiculous but overall this is just good fun, if you let it to be that is.
I'm surprised by the level of violence or rather the display of blood we see. While there is lightness and fun, there also always consequences. You might find that weird and you may not enjoy that balance act, but overall I would argue it works. And having someone like Johnnie To at the helm helps a lot. He may have turned his back on these Martial Arts movies and gone for movies set in recent times but you can see he knew what he was doing in this one too. Characters may seem to have issues with decision finding (or finding their moral compass/radar) but how would it work otherwise ... also really melodramatic .. but that doesn't have to be a bad thing ...