Here's the key to the entire film's plot. Its not really about Bond. He's an aging blunt object being manipulated as used as a piece on the board by M, as the action sequences have Bond with an ear piece taking order and directions from HQ at every turn. The movie's plot and villain focus on her history as a director, and her ability to be cold, calculating, and ultimately uncaring for her OOs. She goes as far as to lie to Bond and MI:6 to get Bond back in the game to cover up her mistakes, clearly showing she's at any moment talking in double-speak.
For the Bond die hards out there, understand this movie hits ALL the right buttons. Sam Mendes is a huge Bond fan, and it has the feel of a kid who had a chance to make a Bond movie and include his favorite pieces from the 22 bond films to date.
It feels and acts like a sequel to Casino Royale, but there was a missed opportunity to tie it back to Vesper in a key scene in the Macau casino, but once again, die-hards will get it without it being stated, casual fans will not.
There are references aplenty, twists and character introductions from the longstanding book and film series. There are obvious ones, the addition of Q and his gadgets, and others - an indirect reference to Jaws. Bardem is perhaps the most complete Bond Villain to date, as the camera and characters give him ultimate stage presence, even so far as to being bigger, badder, and many times better than Bond. The interrogation scene is reminiscent of the Man with the Golden Gun, a villain with the utmost respect for Bond, who cherishes his skill, but ultimately is pushing him around the game board as well.
Please note the following make or break this film's enjoyment for movie-goers. If you are a casual Bond fan, or if you demand explanations for every single plot point of a film, you may be disappointed. Mendes either assumed we were all fans and assumed that by skipping a few explanations, or he deferred to my previous comment that he was a fan and just didn't care to explain why certain things were included.
Bond is again a hard-drinking womanizer, and there are the Diamonds are Forever and Never say Never Again themes of an aging Bond throughout the film. Its a little hard to take, watching your hero be physically unable to do what he's best at, but it also adds an element of humanism and insecurity in Bond that makes him a complete character, not just a caricature. Also, the 3rd act swings heavily towards Bond's background and path toward becoming a OO, which feels like Craig may be done as Bond, as his arc is now complete.