Fairly fun but doesn't have the same punch as the original. Why they set it in the future (1997) never made any sense to me either. They're clearly suggesting that crime has become rife and unstoppable (did they really think America would descend into chaos in just 7 years?). Either just set it in the present or much further in the future.
And it says quite a lot that the best part of the film was the scene where we see the alien skull in the predator space ship (and a franchise of terrible Vs movies was born).