HunchBluntley: Plot-wise, that's pretty much a perfect adaptation of the games. ;D
Crosmando: The plots of RE 1-3 were straight foward and good enough (though their strength lay more in atmosphere, music and presentation). Code Veronica went off the rails a bit in parts. As for the other RE games, I honestly haven't played them. I played a bit of RE4, concluded that this was an action shooter game and not the adventure horror Resident Evil I knew and dropped it.
Atmosphere and "presentation" (depending how one defines that) seem to be the only things that RE has ever done really well as a
horror series. Well, and the general idea of scarcity of resources (early on, at least), though there were some bizarre things there, too. The stories, though, have always been full of an awkward mixture of anime/soap opera-level writing and brain-dead conspiracy tropes that I just can't take seriously. (Fuckin' Wesker....)
Basically, It was fine for a single game, but there were only so many things that could reasonably be done with the concept without treading the same path again or devolving into nonsense. (And RE wound up doing both of those things anyway over the course of ensuing games, films and what-have-you.) The premise as presented in the original game definitely didn't have the depth it would've taken to support a long-running multimedia franchise...but plenty of people were willing to buy whatever the IP owners were selling, so it became one anyway.