The best word I can think of to describe this movie is beautiful. Simply beautiful.
I wish more musicals would get released like this after their runtime in theaters for people like me who have no way to see them live.
Somehow, this movie seems to fit the criteria for both a remake and a sequel. Obviously, yes, this film follows the continuity of the franchise up to this point (even Rocky V for some reason). But while doing that, it also makes the story feel like a "What if Rocky took place in 2015" plot. I could see someone possibly finding that to be a fault, but I really loved it. Our main character is different enough to be interesting while tackling these difficult odds.
But don't let me forget the direction on this film. I loved almost every shot, every edit, and every musical cue. The fight scene in the middle of this film is all one continuous, uncut shot. Probably put together digitally, but still freaking awesome. If you enjoy the Rocky franchise, you'll enjoy this great epilogue.