Unless they agree.
Anyway, thoughts on the merits of the original aside, one thing it did do was create many imitations, as well as effectively (for the mainstream sake of argument) birthing the found footage sub-genre.
This film is utterly forgettable as it brings nothing new to the tired, fading party. It seems like a cheap and pointless cover version of the film it's a sequel to.
Also, what the fudge is going on with the lights, the gangly entity, the time travel and all the other unanswered shite it slaps against the wall hoping to paste over the cracks of unoriginality?