I'll have to watch the movie to make my own opinion, but before I do that, here's a general opinion on movies "based on X" in general.

I think sometimes it is alright to just say something is inspired by a real story and leave it at that. I don't really get the reason it seems so important for producers to say that something is based on real events.. It doesn't or shouldn't change the opinions about the movie, and like this it just makes it historically inaccurate.

!1UP