So whoever wrote this really was very careful with the source material. In essence, the film covers the first arc of Bleach faithfully, although it does it in a way where it really cuts out all the fat. Almost all extraneous C-level supporting characters have been cut, and hollows have been reduced to three iconic encounters.
I start with this point because it is the film's one major flaw: While everyone here is exceptionally well acted, it's playing Set Up for Soul Society by bringing in characters that don't have much to do. Orihime and Chad don't get their development arcs at all, while Uryu has been upgraded in ability, and even initiates his Hollow Reaping Contest episode at first, but that beat is quickly aborted in favor of bringing in Renji and Byakuya right into the middle of the film.
This is where the film makes a major departure from the anime: While the encounter with the Fishbone hollow and the transference of Rukia's power plays out exactly like the manga/anime, we're given a new ticking clock: Ichigo can transfer Rukia's powers back to her but only if he defeats enough Hollows to raise his power level. Otherwise the attempt will kill him. The two reapers come to demand Rukia kill Ichigo and reclaim her powers, but when she refuses, they're given a period of time to try to hunt down Grand Fisher, who in effect becomes our ultimate baddy. The film then enters into a Hollywood-style training montoge, where an invigorated Ichigo accepts the challenge.
I feel like a little too much time was spent on this, and where one more fight with a hollow might have been a better, if more expensive choice. Either it wasn't in their budget, or they felt the movie was running overlong.
The fight with the hollows, especially Grandfisher, tends to be a bit of a CGI mess. They're realistic enough, but you sometimes have a little trouble telling exactly what's happening. This is compensated by the stunt and wirework, which is actually pretty top form. The final fight with Renjii more than makes up for the somewhat lackluster Hollow fights, even if again a bit of CGI foolery pushes things a little too close to feeling like a Power Rangers episode on steroids.
I know this makes it sound like I'm really giving the movie a hard time, so let me to get to what I like: This movie is nearly two hours but its almost perfectly paced. At no point do I really feel like any part is too indulgent. Elements from all over the first season are hinted at, nodded to, or placed in interesting new ways. Every actor really shines, and there's a surprising comedic energy to the entire film. The score feels reminescent of the anime, right down to a few familiar stings, but its still wholy original and appropriate to each scene. It feels VERY anime, but in a good kinetic way. I get the chemestry between all the characters, especially between Ichigo and his dad, and the budding romance between Ichigo and Rukia.
All in all, it's worth your time on Netflix. Give it a watch.