I had my Johnny Mnemonic about a year before watching the movie.
I like Cyberpunk very much, still Play Shadowrun 2.0 with my friends for about 25 years now and waited for JM to be available in the west in the longer japanese cut. (Wich came out recently.)
The movie is not very good, wich is Kind of strange because I like a lot about it. The Story in itself is great and the Setup would make up for a good middle part full of breathtaking chase sequences. They have a great cast also but for some reason the directing is so awfully bad it destroys it all.
There are no establishing shots. You never see a city scenery. No scale. You nearly never see anything of that cyberware/ augmentations that drive the illness people have. On top of that there is no sense of speed or anything.
The most memorable Scenes (despite Takeshi being awesome) are Dolph Lundgren getting quite established as a villain, then in the first Encounter Scene casually getting run over by a car and Johnny yelling for room Service. (Both Lundgren and that yelling are sadly missing in the pin.)
So JM is not 'horrible' but while watching I thought is was a very mediocre TV Movie... with great cast.