Based on the Sid & Marty Kroft show from the early 70's, this movie is about scientist Rick Marshall, his colleague Holly and Will, owner of a run-down roadside attraction, who are transported to a place where "past, present and future meet", The Land of the Lost.
As a Will Ferrell comedy this isn't as funny as let's say STEP BROTHERS or BLADES OF GLORY. As a LAND OF THE LOST movie it's just "OK". Granted, it's cool to see the Grumpy, the T-Rex, and all the Sleestaks with state of the art effects--but it only made me want to re-watch the original series.
There are some stereotypical scenes, such as having to climb up to a Pteranodon's nest and deal with the hatching babies. The story also does to Enik the Altrusian what the first SCOOBY DOO movie did with Scrappy Doo, which is no big surprise.
If you're a fan of the original series you'll like this but don't expect a Summer blockbuster.