It's so bad. It's so hilariously, wonderfully bad, and it's exactly what I wanted.
So the people saying it's worse than the original ... yes, that's true. The original takes a lot of heat, because of the dialogue, and the acting, and the things that don't really add up, but in terms of storytelling it was effective, right? July 2 is this great crescendo culminating in the disaster scenes we all came for, while setting up characters we like despite ourselves because they're Jeff Goldblum and Will Smith. July 3 you get planes vs. spaceships, Will Smith being a badass, and they actually develop the characters in ways we care about. Then July 4 sets up a great showdown. It's a well constructed movie despite its flaws.
This is the opposite. There is absolutely no sense of pacing or structure or build. Things just sort of happen, one after another, wherever the plot needs them to. The movie doesn't obey real world logic, or even disaster movie logic, or even its own internal logic, at pretty much any time. In one scene Bill Pullman's in the room chatting with people, the camera cuts away for one shot, and then cuts back to the exact same shot except Bill's missing, and they all say, "Wait, where did Whitmore go?" like he snuck out in that 1.5 seconds. Characters have love interests - like literally every character including Dr. Okun (he actually has the best one) has a love interest, except for Dylan -- why doesn't Jessie Usher get a love interest?? -- but of course that never actually motivates any character to do anything. Jeff Goldblum's love interest shows up in the beginning, hangs out at his side the whole movie, and is there at the end. Sizzling romance!