Independence Day was a great summer movie when it came out. It had everything that glues people to their seats. Massive set pieces, Will Smith punching an alien in the face, and Randy Quaid. What more do you need to make a good movie?
Well, timing helps, too. You see, when the first ID4 day movie came out, we had yet to see major destruction of a city by an alien sing modern special effects. Since the first ID4 there have been dozens and dozens of movies just like it. Think Battle of Los Angeles as one (crappy) example. It might even be called Battle for Los Angeles, it is THAT bad it is, I refuse to Google it. But my point is, the concept has been ripped off too many times since, Will Smith is not even in it, and it has been too damn long for anyone to care.
In other words, it is gonna suck.