Action and a fast pace don't preclude emotion, and a story can't be all hack and slash.
Years ago, when the INDIANA JONES movies were so wildly popular, a publisher created an action/adventure book series with the pace of the opening scene of the original INDIANA JONES where disaster builds upon disaster upon disaster with no real stopping for breath.
I read the first book, and it was bloody awful because the action became boring and silly at such a lunatic pace, and there was so little personality to the main character or any of the other characters I didn't give a damn one way or the other what happened.
EXAMPLE: A bear chases the hero up a tree, he thinks the tree is safe, but it's rotten, and the bear begins to shove it over, the tree lands in the river, but it's infested with alligators, and there are bad guys on the other side of the river, and a bear on this side. He out swims the gators to a bridge and begins to climb up a vine growing up its side, but, ooops, there's a large poisonous snake right above him, and....
Needless to say, that series vanished without a trace after a few books.
Pace isn’t just violent act after violent act, or the characters moving from one place to another. It’s mixing characterization and elements that move the emotional and action plot forward. It’s giving the reader continual questions about the characters and what’s happening and answering a few of those questions as you move along.
It’s emotional consequences.
It’s having a quiet moment of introspection or a brief comic moment in the heat of a long battle that reminds the reader why they’re reading the story or why they like these characters.