Never watched the old Godzilla. I *might've* seen some fragments in the Muppet cartoons, but I don't remember if so. There's a degree of cardboardness I can tolerate or even be amused by in films, but this one doesn't look good.
(In case my media familiarity seems severely lacking, I have to chalk that up to a combination of being born in the socialist republics, and the years spent aboard being spent in the middle of nowhere with relatively little in the way of TV or rentable cassettes.)