Yes, this film is obviously influenced in great part by Predator and is in no way an equal to that classic. But you know what? It's not supposed to be! It's not a big budget Hollywood flick. It's a B-movie. A made-for-TV one at that. By that standard, Code Red is actually a bit above average. The acting is decent and the directing is competent. It's not ultra stylish, but the director knows where to put the camera and there is vigor in some of the action scenes. Most surprisingly, the weapons and costumes aren't laughably inaccurate like many B-movies. Which is not to say it's perfectly authentic (eg, they fly around in a civilian helicopter), but at least you don't have American soldiers carrying around low-end foreign weapons because that's all the production could find at that filming location.
Finally, the concept is fun and goes beyond simply being a Predator clone. With its secret government bases, alien conspiracies, and other pulpy sci-fi novel elements, the whole thing takes on a fun, "X-Files by way of action movie" feel. If you can accept that you won't be seeing Hollywood production values, then you may find Code Red to be an enjoyable little film.
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