Disclaimer - Low Budget, Not ILM Quality CGI, Non-Linear Storytelling
With that said, if you can accept these things, you will most likely enjoy the film.
Most of the negative reviews on this board and online reference these three things as the biggest qualms with the movie.
First, this was produced by the cast and creators.There was no studio involvement. There is no big investor throwing millions of dollars at this franchise potentially risk free. This was funded by them with there hard earned money for a SMALL FANBASE. Let's be honest, Phantasm is relatively unknown to average movie-goers, so they are investing $200-300,000 on something that has a lot of potential to flop, especially in this day and age.
They are relying on the core fanbase who have been with them for almost 40 years. However, I did just watch 5 with my sister and her roommate and they both really liked it. They've never seen a previous Phantasm.
We didn't have to get a part 5. We all owe David Hartman a big thanks for getting Don to give us one more ride with these characters. If you hate it, ignore it. Use oblivion as the conclusion. If you want to see three Phantasm scripts mashed into one epic, exiting, and emotional film with all the original characters and a lot of Phan service, you will love this film!
If you hate the film for the reasons I listed above, please don't flood the board with another thread. Just post here. We get it.