The actual MMT tracks (the first six) see the Beatles at their lowest ebb creatively, spaced out and knackered after Sergeant Pepper, and inclined to let any old thing pass - especially Harrison, hacked off with the group and at being under contract to Northern Songs. His Blue Jay Way is a poor effort, a boring song about being bored. Most of the others are also below par; I Am The Walrus is a classic, I guess, but not a favourite of mine. The larky 'performance' (ie mime) in the film belies the fact that nobody else - except perhaps Nirvana - has been anything like this caustic about their own audience.
Of the other tracks, Penny Lane and Strawberry Fields belong to the Sgt Pepper sessions; the others are okay post-Pepper singles, pleasant enough but not their best work. Not until the following year would they get off the acid and begin to raise their standards again - though tensions would rise along with them.
As a whole, it can't be compared to the classic Beatles albums because it simply isn't an album; it's an EP, mediocre by their standards, with some other oddments stuck on. Personally I think the film is, if anything, probably better than the music and more influential than people realise - eg I'm pretty sure the young Pythons watched it with interest.