I actually enjoyed this movie
Sure it was vastly different than the games in some areas, but it does have a sense of atmosphere, some pretty nice special effects, and the music is probably the single best part about the film. Battlestar Galactica reimagined (2003 series) took a lot of inspiration from this, which in turn took inspiration from the Wing Commander games, which probably took inspiration from the old Battlestar Galactica & Star Wars. Full circle!
Sometimes I just wonder though, why didn't they just get Mark Hamill, Malcolm McDowell, Biff Tannen and John Rhys-Davies to reprise their roles as Christopher Blair, Admiral Tolwyn, Maniac and Paladin respectively... It would have helped a LOT.