First of all, kudos to the restorer for providing an exceptionally clear print. Unfortunately that can't be said of the direction or rather the story idea.
The brief story, as mentioned in the various reviews is- there is a shrew (flapper in hollywood terms), Ethel Hoyt (Marion), with tons of dollars in her or her father's bank, just as Katharina of the original had. The only difference was that she was a social butterfly in addition. The father gets a brilliant idea, while watching the bard's play, that only a Petruchio can tame his daughter. Luckily, the actor playing the part of Petruchio was his close friend (despite huge age difference) and he agrees to tame her, make her fall in love with him, and once tamed, release her. Nothing much unpredictable in where it all lead to.
Had it gone along those lines, it would have been palatable, only to a certain extent. The basic idea of having your daughter, that too a head-strong one, fall in love with someone, you don't intend her to hitch with, is quite strange.
However even if one tends to forget that, ther rest of the movie had been a complete drag.
The Lioness-tamer had been well coached by the father, and had even been introduced as misogynist. He might not have been one, but he was asked to be one, a la Petruchio, to tame her. But was there any hint of that? Even once in the movie? The girl had been associated with the door-mat admirers, on whom she would stomp at her wish. At that moment she already had six of them, the Harvard Seniors, and this added a number to that and became the seventh door-mat, and remained so till the end. It just inexplicable on how she fell in love, if one goes on the logic that was being advocated.
Naturally I won't have liked it, if the women was shown to be doormat or even violated, as in the Bard's play. But the girl, romantic, and having her own way with all the men around, including her father, needed some one who at least sometime be tough, take stand against and not follow the wish of her little finger. The hero's character was definitely not having a single of those qualities. In the end she says she is tamed, but was she? I doubt. Once the 'Honeymoon' was over, she would have been back to her colours, since till the end, every one did, and acquiesced to what SHE wanted.. When she shooed him off, he he went, with proverbial tail between his legs, till she whistled him back.
Only plus factor was Marion's looks, but that can't really make an incoherent movie watchable.