First, this movie contains no excitement. None. Not an ounce. If you don't like watching B-movies, you don't need to see this. Even if you like B-movies, this one is difficult to sit through, but it has a few things going for it.
Second, it's hardly an ET rip-off. (Did the previous two commentators see the same movie? No way.)
Rather than ET, it more resembles the TV series called "UFO". Some of the characters even pronounce that abbreviation as a word, like "you-foe", which is how they always pronounced "UFO" on "UFO". Early on, the movie does a decent job of presenting a mildly creepy "the aliens are stalking us" mood, & in one or two places, characters speculate that aliens abduct humans to experiment on them. Both of those aspects reminded me of "UFO". Also, there are some scenes through an alien's eye-view. (Oh yeah, & during those scenes, one of the sound-effects is definitely from the Doctor Who story called "Robot".)
But the plot doesn't stay with the "aliens are stalking us" premise. It meanders all over the map of plots. It goes nearly everywhere a plot can go: creepiness, missing persons, journalistic story-hunting, police crime investigation, government conspiracy, international conspiracy, double-crossing double-agents, & even psychics. The plot changes so often & so thoroughly that I felt almost like I was watching different movies. I'd say this is the movie's biggest problem; it's like the writer didn't know what kind of movie he wanted to create.
There's a character who just HAS to be the inspiration for The X-Files' Cancer Man. Even the actor looks like the one who plays Cancer Man. When I saw that character, which is also about the time the plot turns to conspiracy theories, it made me suspect that this movie was some of the inspiration behind The X-Files. I'd almost bet on it. There are also some alien-abduction scenes & talk that resemble that same theme as it's expressed in The X-Files. (But if you are an X-Files fan, don't count on this movie to give you a supplementary X-Files fix. Your standards are probably way too high.)
A curiosity: The version I watched had an English dubbed sound-track. I believe the movie is Spanish (?), but every printed word I recall seeing was English. I thought that was mildly interesting.
The ending was unexpected, I'll grant. I'm not saying it was inspiring, insightful, or clever. I just didn't see it coming.
So, it's a bad movie, for sure, but there are some things about it that provide some food for thought or analysis if you're the kind of person who wants to look for it. (But it really is a pretty bad movie.)