Cameron is among the best action filmmakers ever. The thing about action is not so much that it has no plot -- one heck of a lot happens in a James Cameron movie, and it tends to be quite logical and internally consistent too, because the guy keeps obsessive track of every damn thing. The problem is that a good action movie's plot can't be described in words. You sort of have to be there. The individual events -- guns jamming, doors sliding, lights flashing -- just don't add up to much by themselves. It's like trying to describe the Taj Mahal by talking about one brick at a time.
James Cameron can do a lot with three apparent cliches. Provided he also has several hundred million dollars. ;)