YES, IT IS.
The online 3v3 multiplayer is extremely shallow with just 2 modes, "One Life Match" and "Multi Mission", both lasting only 3 minutes each. Aside from a well paced unlock system and decent character customization, the game's balancing, weapons, controls and overall design are absurdly bad.
The single player experience is basically a crucible called "The Experiment" which contains 24 repetitive missions with the exact same objective, to collect infected DNA samples, on a limited number of poorly designed maps. There's no real story concerning the Umbrella Corporation aside from a few poorly written diary entries. Besides that there aren't any cutscenes or boss battles throughout the entire span of the 24 missions and at the very end, the game rewards you by showing you the game's trailer.
In conclusion, Umbrella Corps is a terribly underdeveloped game unworthy of the Resident Evil name. If you're a fan of the Resident Evil franchise or just a fan of competitive first-person shooters in general, you won't be a fan of this.