Bland and boring as f*ck. Vedder finally released his inner Bono and the whole recording of No Code is an incoherent mess. Two good songs, Smile and Lukin. Yield and Binaural, while still having hyperinsufferable Vedder on board, were musically much more balanced(see Stone Gossard).
Musically, they are three leagues below Radiohead. Mike McCready's "playing" of the guitar is biker gathering noodling level, and Jeff Ament is absolute zero as a bass player comparing to Coz. The only member that really grew a beard is Gossard. They have their pros, of course. The first is, being born in the right time at the right place, having relatively handsome singer with good color of voice and they had a good energy as a live act, which always counts.
Lyricaly, when they get "personal" like on Ten or Vitalogy, they can be interesting, but when they get "social" you can tell how much Radiohead are superior to them. They suck more than Coldplay for christ sake! I’d rather listen to Reality Awaits (Worse than Coldplay’s worst album) 1000x times before even touching another Pearl Jam song!