This movie, Josh Trank's directorial debut, is presented through what's called "found footage," which means that the events shown are snips from different video sources like security cameras or cellphone cameras. It gives the effect that these events happened in reality and that they were recorded on the spot. If I'm not mistaken, I think The Avengers used this technique at different points of the final battle scene, but Chronicle uses it in the entirety of the film, not just a part. Even though this technique is very interesting and it adds a layer of realism to the film, I think, if not edited correctly, it can make the movie very choppy, creating "plot holes" and sacrificing character development in the process.
The actors' performances--Dane DeHaan, Alex Russell and Michael B. Jordan--are not subpar. They did exactly what they set out to do--portray three normal teenage boys, whose lives have completely changed by gaining superpowers, something every little boy dreams about. However, they could have been explored more deeply, specially Andrew's; it feels like the director and his team missed an opportunity there.
The disappointment, for me, comes from the fact that I expected more out of the film. The premise is interesting and it hooks the audience for a moment, but it's not enough. It needs either more action, more drama, more analysis, more something, so by the middle of the movie I'm not checking my phone over and over, wondering when the movie is going to end.