I consider Star Wars A New Hope the weakest of the original in retrospect; however, when that first came out there was nothing else like it. Sure there was Sci Fi fantasy before it, but the blend of story and action sequences were still unlike anything prior, so much that all kinds of new films and TV sagas started popping up trying to reproduce the formula. There was never really quite the same response from rival production studios to Star Trek or Buck Rogers or Doctor Who in the same way as Star Wars. In the order that I rate the first 3 films:
Empire Strikes Back
Return of the Jedi (Ewoks and all)
Star Wars
Phantom Menace had no characters you could like or identify with. Audiences seemed to have their preference in the first 3- they either identified with Luke Skywalker or Han Solo, if not both. Darth Vader was a great nemesis. When Lucas permitted re-releases of Star Wars in theatres, I recall audiences cheering when Darth Vader when first arrived on screen.
The next 3 films had no Darth Vader. Darth Maul could have been a terrific villain, he looked quite cool. This character was never really introduced to the audience with much screen time and he just got aced at the end of the first film. That's it. In contrast, the audience was forced to endure Jar Jar, a character you would probably just hand over to the Emperor to kill if you had to go on adventures with him. You had Palpatine, who was probably the most interesting character in my view, but because of his role more in the background pulling the strings most of the time, you don't really get much sense of his evil or powers just yet- at least not until the final curtain.
The nonsensical politics that Lucas tried to craft with some kind of deep background was actually rather shallow, too bad the films were so engrossed in it. De-mystifying the Force and making the Jedi more or less into a defacto investigative police force given free reign kind of just seemed to miss the mark. Once you see them driving around in cars, fighting in the cockpits of space ships, or using submersible water craft, it doesn't really make sense they would need to later hire a mercenary space captain to ferry them around, they already seemed more than capable of doing everything. Less a removed, Eastern like sect of monks or whatever when you see them interacting with technology so much with digital libraries and whatnot.
One could look at them either way: do the newer films stand on their own if you forget nostalgia or don't compared them to the original 3? As said before, perhaps if you're younger without that background. To tell the truth, as standalone films I think they are even worse, it's only any sense of history that even brought me into the theatre in the first place, even knowing ahead of the time of mediocre reviews. In time, the films won't be remembered as bad as we thought they were though.
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No one gets out of here alive.