Talk about style over substance: The Man with the Iron Fists is an exercise of busting out a distinct visual flavor, but nothing more.
Directed by and starring RZA, the film is a homage to the kung fu movies of yore, with a twist of course. Here, we have an enigmatic blacksmith (RZA) that gets caught up in a turf war among clans in China. How the titular character got the Iron Fists is one of the key plot elements of the film, but other than that, it's just a showcase of Hollywood kung fu worship, which borders on the silly.
But I wouldn't blame Quentin Tarantino and RZA for coming up with such a shallow film-- the source material is not exactly known for its depth, and the creative team may have resorted to augmenting the genre with sex and gory violence, the same way Tarantino mixed it up in the Kill Bill films.
As people say, where there is iron, there is rust. And in the case of The Man with the Iron Fist, it has a lot of pretty, but corroded elements.