This looks absolutely ludicrous and completely insane. But it also should look pretty sick in 3D on the big screen, and Proyas has a very rich imagination so there should be some pretty cool stuff in this, however absurd it may be.
As for the melanin-deficient portrayal of the Egyptian gods and people here, I mean it's Hollywood so wouldn't really expect any different. Although this does look *really* over the top in that regard... but then again I still watch The Ten Commandments every Easter so whaddya gonna do? At least they got a token Black dude to play Thoth.