Nicholas Galitzine stars as He-Man in “Masters of the Universe.” (photo courtesy of Amazon MGM Studios)

It’s time for a hard truth. O.G. He-Man is insanely cheesy. I can applaud how the animated series mixed medieval with sci-fi elements. Who else had Conan flying around his kingdom? But this Saturday morning ‘80s show peaked then, largely elevated in elder millennials’ minds by the popular toy line. Most attempts to reboot, rehash, revise this story fell flat or were hated out of existence (see Kevin Smith’s solid but largely reviled iteration).

So this He-Man adaptation should fail too, right? Let’s break down the challenges: Nostalgic IP with unclear public appeal that can fail like many others (think G.I. Joe, Smurfs, Scooby-Doo, Transformers, etc.), an unproven lead star who doesn’t quite reach the massive ‘80s hardbody expectation, possible overuse of CGI to camouflage a thin story and Jared Leto as the villain.

That’s a lot, and then tack on a $170 million price tag. This one probably won’t turn a profit for the once great MGM – now an Amazon pawn – but that doesn’t mean it isn’t fun. It’s sloppy filmmaking, but it’s enjoyable slop.

I know what you’re thinking. Why is Earth part of this? From Beastmaster to Sonic, Earth plays a role in stories that originate on entirely unearthly bounds. At least it kind of makes sense here. Eternos, the capital of the planet Eternia, falls at the hands of Skeletor (Leto), forcing young Prince Arthur to flee through a portal to another realm with the Sword of Power, a weapon filled with the might of a god.

Flash forward to Arthur (Nicholas Galitzine) reading in Oklahoma City, spending most of his days at an HR job doom-scrolling for swords, hoping to one day find the one he lost during his inter-dimensional trek.

Before you wonder if the entire film will remain in South Central U.S., both an old friend Teela (Camila Mendes) and a new foe locate Arthur and that sword. And they’re off to Eternia to unite old comrades, like the king’s Man-at-Arms Duncan (Idris Elba) Roboto (voiced by Kristen Wiig) and a sea of others with silly names and abilities. Along with reunions of heroes and villains, the journey invites doubt, since Arthur’s HR training influences his perspective on conflict resolution in a place that has more dungeons than office spaces.

A few jokes pop by for an attempt at humor, but not a single one lands. Is that director Travis Knight’s fault? He’s an icon at stop-motion filmmaking (“Kubo and the Two Strings”), and “Bumblebee” is the only watchable live-action “Transformers” film. But “Masters” feels like filmmaking by committee, especially considering the six folks attached to writing the thing. That’s the curse of IP: lots of parties involved, no singular vision.

Films like “Warcraft” and “The Dark Tower” also show their colors – all the captains trying to steer the story – but “Masters of the Universe” ascends those middling disasters. To his credit, Knight injects some personality into the story and the characters.

It certainly tries to be self-aware like “Barbie” and a little self-deprecating too. Any story with characters named He-Man, Fisto, Ram-Man and Evil-Lyn should provide enough fodder for good jokes, at least a brief nod.

Leto, of all people, understands the assignment, delivering his best performance in years. He hams it up, enunciating each line like a veteran stage actor high on his bloated importance to the craft. And the decision to maintain the skeleton-faced baddy without shying away from the source material is a plus.

Frankly, the biggest win is how everything looks exactly how anyone who watched those cartoons or played with those toys would imagine them in live-action. And most casting choices match incredibly well, ignoring the ludicrous concern that Galitzine didn’t bulk up enough.

But “Masters of the Universe” doesn’t commit to the bit. It’s quite fun but relies too much on noticeable CGI and general action tropes in lieu of clever bits. It has a lot going against it, and maybe it deserves more criticism. But it’s also the best attempt in some time, and nostalgia is a powerful tool.