I love every stupid second of this song, but agree with everything said - it was the first Gaga by numbers approach as a single, although I think even that's unfair. There is at least a theme running through it lyrically and with the video. If that's generic Gaga then it still did, and does, shit upon most big popstar songs in terms of sheer effort and extravagance.
I think she was so over exposed at this point that, unless she dropped another perfect crowd pleasing smash, people weren't having any of it and grew tired of her antics. The expectation was almost too much, partly because the bar she'd raised was so high and also with the Born This Way single being so divisive. Everyone wanted the follow up to be perfect, which meant of course nothing ever would or could be.
The song is glorious pop, but if I have any problem it's the transition between verse and chorus. It's so CLUNKY and doesn't flow at all, like there's a bit missing. Other than that, I still love it to this day, probably more so because it's a "forgotten" Gaga single.