It's a two and a half hour long fan-edit of both of Ridley Scott's disappointments: 'Prometheus' and 'Covenant'. The first one tapped into the 'Ancient Aliens' hype as peddled by the History Channel and the second doubled down on this cringe, driving a stake through the Aliens franchise altogether.
The fan-edit is a more clinical/documentary style adaptation of the available footage (including bonus material). It follows the synthetic 'David' and explores his motivations and character arc more fully. It removes much of the cringe, but does not manage to excise all the Hollywoke stupidity. E.g. the study of micro-organisms was apparently never developed in this universe, explaining the complete and absolute stupidity of the characters in removing their protective suits in a xeno-biological environment or never bothering to put them on in the first place (as is the case in the second movie).
It was definitely a good attempt and it even gave off vibes of the original 'Alien' movie, but it also had a lot of smaller narrative plot holes. But all things considered, it was still better than the original.
Weird timing I actually just watched Prometheus last night and I'm watching Covenant tonight.
I consider Alien to be a masterpiece, although I'm not as big of a fan of Cameron's Aliens. I thought it deviated too far from the formula of the original.
Prometheus really was just a pointless fucking movie to make. It doesn't add anything it just seems like an interesting diversion. There's no basis in science or fact and the characters are all dogshit.
I'm watching it chronologically (AVP / AVP 2 / Prometheus / Covenant / Alien / Aliens / Alien 3 / Alien Resurrection) to make sure to end on a strong note. I'm one of the few people who enjoy Alien 3 / Alien 4 mainly because I'm huge fans of the directors involved (finch / Jeunet) and I appreciate them both putting their stamp on the franchise while keeping with the original themes.
But Prometheus and Covenant are just...so unnecessary.