it is. first off a good 80% of the movie you already know what happens from the trailer; he's obviously one question away from the grand prize, so any sense of drama is kind of removed by the knowledge that he's 1. clearly alone here and 2. he obviously gets the questions right to a point. there is a hilarious depiction of India as this third world nation and I'm the first person to admit child prositution, begging, gangsterism, religious violence, all run rampant in India, but yeah no one gets shit on as much as this Jamal kid does. everything's just so awful in India...the world's shittiest country...BUT HERE'S THE AMERICAN SAVING THE DAY! dialogue is just painfully bad ("come away with me" "and live on what?" "...love" REALLY GUY), it's heavy handed as fuck (for no reason a character empties out all this cash into a tub and has a final standoff in it lying in it just because I guess overwrought symbology is how he chose to make his OK Corral), incredibly predictable, and in general deserves Oscar consideration for its depiction of India about as much as Crash deserved it for its depiction of race relations.
fun fact though; a millionaire is not a thing in India. it's not significant, it's like someone saying "I'm a hundred thousander!" the currency doesn't allow for millionaire to be a status. it is in crore, or TEN million, that you get the status of rich dude. so the indian show is kaun banega crorepati, or who will be a ten millionaire, instead of who wants to be a millionaire. so the guy never says HE'S A MILLIONAIRE until Jamal hits the ten mill mark despite having made millions already. to further confuse matters, he does not call him a crorepati; he still calls him a millionaire. so he uses a meaningless term to describe the wrong thing! tell your friends, show off.