Bloodrayne is told that she needs to get an artifact that Kingsley wants, and she does, but sort of absorbs it - she then learns there are 2 other artifacts, all parts of this older, super vampire. (Kinda like the bits of Vecna). She gets kidnapped, and the Michael Madsen bunch rescue her, then join forces with her. Then there is a really long bit at their secret hideout. Then there's a big battle at the hideout. Then she gets the 2nd artifact (Ben Kingsley gets the 3rd), then there's a final battle with Ben Kingsley.
Though I do admit, his style of directing is pretty bad, which can make it a bit confusing. His style reminds me a lot of Tsui Hark - nice cinematography, but jerky editing at times, and other bits really drag on. And the last 5 minutes of the ending don't make much sense, after she kills Kingsley.