I'd say it beats 'Paranormal Activity' easily - not only because it was completely unprecedented (except for Orson Welles' 'War Of The Worlds' I suppose), but also in every other way. 'The Blair Witch Project' did a great job at taking the seed of an idea and transferring it to a big-screen thing (with the "found footage" angle as opposed to a live broadcast), but by the time 'Paranormal Activity' came along, that was sort of old news.
I've always said PA was essentially a Hollywood producer saying "Well the Blair Witch Project made tonnes of money off a tiny budget, I'll do the same thing from my California mansion", and I think that's why it suffers. It's not original, it's not interesting and (most importantly) it's not scary. It feels like while 'Ghostwatch' and 'The Blair Witch Project' took years of thought and consideration, PA was done more cynically on a whim to earn some cash.
These bastards!
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