Look, this isn't the 1984 Ghostbusters, and it doesn't need to be, they're very clearly trying to take their hands off the nostalgia button slowly but surely. They definitely give enough little nods and fan service, but they're trying to make it feel, look, and be a modern story, and that's ok.
They're not reinventing the wheel here, just branch out a bit, and it's enjoyable. I laughed, had a little jump scare once, and felt invested enough to come back for another follow up should there be one, and I think there should.
The good: Paul Rudd is adorable as always, wish he and Carrie Coon has more time, but really Makenna Grace does the heavy lifting here, the OGs are great for providing a little support, and the practical effects are fantastic and I wish there were more.
The so-so: there are clearly some cuts in editing for time that made a few weird jumps in the story and left a few questions, but without spoilers I'd say they're not a huge deal. Pacing could maybe be a little faster in my opinion, but I'm not one to complain about getting more movie for my money. I also felt they could've used more of a soundtrack.
Where it might lose you: there are some less-than-necessary plot points, and they are making Phoebe more emotional where as she wants to be so much like Egon, just let her character be pragmatic and intelligent to a fault. The other teens didn't really do much other than make an appearance and I felt this could have been remedied through the writing; they didn't need to be cut, just explained far better.
Hopefully this will get a good foothold and we'll see another film with the teens becoming adults and getting away from the world ending and just bust ghosts.
Don't expect unrealistic things from Frozen Empire, but also give it some credit and a fair chance.