I don't think it was awful or even bad. In fact, much of it would get high marks - production values, music, scenery, casting, star power, etc. Absolutely loved the Collins mansion. While I don't remember all the details and storylines, this movie definitely does remind me of the old daily soap opera. However, the story was pretty much given away in the trailers and just not fresh. As much as I love Johnny Depp, he is yet again in an over the top costume, also just not fresh.
I did like the little sightings of original cast members. I glimpsed David Selby but missed Jonathan Frid. I would have liked Quentin Collins in this movie, too, as he was, as I recall, a favorite character.
Mostly, though, I think that after having seen such a high adventure/action film with lots of exciting moments, Dark Shadows seemed to drag. I'll see it again in the future, on a gloomy, rainy day, when there isn't much else to do.