Saw it today and absolutely loved it, it stands on it's own while also linking into the nostalgia, if you grew up on the iconic first movie or simply watch it before seeing this then there are certain parts that will make you smile more, but it can also stand alone as it works if the original Ghostbusters were merely created to give a mythology and backstory for this group of new young heroes and their adventure.
While this is obviously a very belated sequel to the 80's Ghostbusers movies the influence of other 80's classics like E.T. and the Goonues is evoked beautifully, managing to be both present day but capturing the charm of those movies from a bygone age, and this is helped by the very likable young cast who are ably supported by Paul Rudd and Carrie Coon, but are the ones that successfully drive the movie and cement themselves to carry the franchise forward. The appearance by the original Ghostbusters is nicely done but for me weren't the standout scenes apart from the beautifully done Egon appearance and the scene when Phoebe first talks to Ray.
The film sets it's tone perfectly from the off with Egon's last act, it is such an atmospheric opening that is carried into the film and pays off in both the story and the character arcs by the time the credits role. It's not in a rush to get where it's going, the story gives time for the audience to get to know the young characters personalities as Phoebe begins to piece together her grandfathers past and what is going on in the small town of Summerville, while her brother Trevor finds the Ecto-1 in the barn and sets about repairing it. Like the original this isn’t an action movie but the chase sequence with the Ecto-1 where they catch their first ghost is fantastic and creative, the mobile remote controlled trap is a neat concept. The final act is also thankfully small in scale and is just long enough, there's nothing overblown, it's more about the culmination of the journey of the characters, old and new, than it is about action or spectacle.
McKenna Grace is the movies lead and is great as Phoebe, while Trevor, Podcast and Lucky all get a chance to shine without having quite the same emotional stakes in their roles, and there's plenty of potential for Mr. Grooberson and Callie after their fun romantic sparring in this movie.

Whether this remains a stand alone film and sequel to the iconic original, or sets the table to bring the franchise back to life, it's a fantastic movie and one of my favourites of the year.
9/10