It’s been reported that Wachowski didn’t want to make this movie, but that the studio was going to do it with or without her.
So, in the movie, we have a creative (Thomas Anderson) living in our world after having created the Matrix as a video game. He’s done with the project. But what happens? The executive pulls him back in to create a sequel he never wanted. They spend a solid ten minutes in deeply sarcastic board room meetings where the same ideas get rehashed over and over again (their clothes change to relate that this is a loop of bullshit). In the end, it’s the same story as the first one, but now the female lead is the powerful one.
It’s literally reboot commentary, as delivered by a trans woman who never wanted to tell it to begin with.