Positives first - Good action, great practical special effects, and nice visuals.
Director Fede Alvarez and his production team have captured the gloomy atmosphere of Alien, and the thrilling action of Aliens almost perfectly. The action was thrilling with some scary moments.
The use of practical effects and realistic miniatures was so refreshing to see in this age of CGI overkill. Seeing a fully realised Xenomorph in the flesh blew me away, and the Space scenes were beautiful. This camera work, visual presentation, and use of quality albeit limited CGI when necessary was excellent.
Negatives - Average acting, nostalgia bait story, copy & pasted dialogue from better Alien movies, and the inclusion of lore elements from the inferior prequels which I wish did not exist in official canon. Plus the reveal of the villain was an "oh, get out of here " moment, I will say no more.
Apart from the great lead actress Spaeny playing up her role, the other cast of actors/characters was just okay. I thought the nostalgia bait story was boring, eye-rolling, and almost 4th wall breaking, it ruined the immersion for me. I'm getting bored of sequels/prequels heavily relying on lazy "remember-berries" to get a kick out of the casual audience while making the Alien fans embarrassed almost angry. To be honest it's just lazy script writing, and disrespectful to the other Alien movies that did it first!. Unnecessary.
Also the overuse of copy & pasted dialogue from the better Sigourney Weaver Alien movies was very cringe. 20th Century Studios should've called it Alien: Remember because of the over-reliance on oh you remember this bit from.. Lastly, trying to inject all the controversial and franchise damaging Prometheus nonsense into the film was frustrating, I hated all that origin of the Space Jockey and creation of the Xenomorph rubbish. And don't get me started on the villain, I don't want to spoil anything, but it was laughably lazy.
I think setting the movie between the first 2 films was a mistake because you have to make your movie fit into the established continuity of the franchise with all the tie ins and plot beats required to make it fit. They should've done a sequel set years after Alien: Resurrection, and setup the start of a brand new Alien saga long after Weavers adventures (and with better writers onboard).
This had the potential to be right up there with Aliens, but due to disappointing characters, a lacklustre "remember-berry" story, and poor script, it was a let down. Alien: Romulus, an above average Alien greatest hits movie, 4th best film in the franchise.