I've played finished code and can confirm that it's frighteningly generic all the way through. And I was giving it the benefit of the doubt. Hell, I was giving it the benefit of ten doubts, with big rose-tinted specs on.
I think by pandering to the gurgling mainstream with space marines and characterless 'realistic' environments, Free Rad have lost sight of what made TimeSplitters so good in the first place - i.e. interesting, stylized characters and imaginative level design.
Plus there's a level in an iron smelt. AN IRON SMELT. It made me yawn so hard my jaw slid down the back of my throat.