This is the definition of 'fine.' It's a perfectly safe, mildly amusing family comedy that won't offend anyone or teach anything problematic, but also won't particularly inspire or engage modern kids.
The 2011 vintage shows—the humor feels dated, the CGI penguins look okay but not great, and the whole thing has that early-2010s family-comedy vibe that hasn't aged as well as you'd hope. Jim Carrey does his Jim Carrey thing, which your kid will either find hilarious or annoying (no middle ground).
The TMDB rating of 6/10 tells you everything: it's watchable but forgettable. If your young elementary-schooler is obsessed with penguins or you need something genuinely safe for a mixed-age group, it'll do the job. But there are better uses of 94 minutes if you're looking for something that'll actually stick with them or that they'll want to rewatch.
Basically: harmless filler that teaches a decent lesson about family, but don't expect magic.
