I liked it a lot. It was a very clever examination of racial identity in an increasingly progressive campus culture (when it comes to race, at least). It's much more early Spike Lee - think Do The Right Thing - than any modern films starring black leads have been (looking at you, Kevin Hart), and that's a wonderful change of pace. It feels very different from anything else in Hollywood right now, because Justin Simien is unlike any other voice in the industry. It's not a "white-people-learn-about-racism" movie like so many Oscar-baity films have been (LOOKING AT YOU CRASH); it's not a "aren't black people funny?!" movie like so many of Tyler Perry's reductive comedies. It's a genuine "what is it like to be black in America's university system today" film and that's wholly interesting.
Basically, go see it. It's funny and it's interesting.