I have to agree. I enjoy going through the process, I enjoy the interpretation of Holmes and the interactions, I like the way they throw bits of things on the screen to clue us to things Holmes is observing. I struggle with the dialogue occassionally, between accents and my own hearing and the rapidfire delivery, I’m running on captioning to keep up. But when it is all said and done, I keep finding plot elements that make me go “Wait, what?”
Part of it was showing off to Holmes, to show what Moriarty has accomplished. He really wants to impress Holmes, to show his own genius is up to snuff, as it were. So he’s okay giving away some of his successes in order to impress his “nemesis”, so he can end up besting the genius. I think he is relying that not too many people will actually learn that he revealed his own cases. Would Watson blog that? More importantly, he seemed like he intended to actually kill Holmes in that confrontation, and was only stopped by the phone call (presumably that was Irene?)
At the time he was trying to distract Holmes from the real point, the spy’s stolen information. The whole “5 pips” plot and the series of tasks was designed to show off to Holmes and at the same time keep him too busy to interfere with the other story. Which means he was kinda pulling the thing together relatively on the fly, unless he had stored up a plot against Holmes just on the contingency he needed a delaying factor?
So at the time he killed the old woman, he was trying to keep his actual identity a secret, he still had another round to go in the delay cycle. Notice he didn’t send the final “1 pip” challenge? And what was Holmes’ response? He realized the point was to stall him, so he sent the message to Moriarty that he had the data, and thus set up the meet.
So you see, the plan changed. At the time of the murder, Moriarty wasn’t planning on meeting Sherlock. He was revealing his role, but subtlely, showing off but not giving himself away. That only came about once Sherlock offered the data exchange. Thus the necessity for the safety with Watson, the bomb, and the snipers.
In general, I enjoyed it. I caught the reference to the flashing lights on the moor, and the hound, and of course “Baskerville”. I liked the interplay, and some of the lines, like Holmes’ “I don’t have friends. Just the one.”
I spotted Watson snag the receipt but didn’t understand why until the later explanation about the store being vegan. It appeared to me that the bright light flashes was part of the stimulus package. We saw them at the victim’s house when he was hallucinating, we saw it in the lab when Holmes spawned Watson’s hallucination, and we saw some sort of flash in the woods when Holmes and the victim were first there, and Watson was off by himself. I didn’t see where the lights were coming from in that last element.
I didn’t quite get at the end when the bad guy ran out into the minefield, he stepped on the mine, realized it, and then just gave up and removed his foot, detonating the mine. 
Also, has anyone tried to come to a dead stop from a run before? That seemes highly unlikely that he could realize he tripped the mine when his foot hit and stop his forward momentum before releasing the trigger. That’s an almost certain boom just about the instant you realize what you’ve done, before your reaction time can even kick in. It would be one thing if he had been at a walk, but he was trying to run at that point, or at least shuffle fairly fast.
But that is straight out of the original inspiration, Doyle’s The Hound of the Baskervilles. The fun in that case was not that there was an element of supernatural, but that they did actually present a rational conclusion and explanation despite the seeming supernatural of it.
I wish Hollywood would do that more often, instead of leaving a trace of “or was it” at the end.
Boomarangs are noted for one thing - they return to the thrower.