I really liked the first movie (by the same director), but it seems that 90% of the industry has forgotten how to competently shoot movies since then. This looks like a glorified fan made film, there's something really cheap about it.
In addition to poor production values, they've probably gone overboard with their reliance on cgi, we've gotten worse at merging cg with live action and then on top of that it's shot digitally which is far less forgiving.
The original looks real nice on 35mm and looks like it was lit, lensed and framed by professionals. It looked like a movie.
After inflation adjustments the original movie had ~twice the budget too.