Elvis was really good! The theater I went to was packed. However, I go to the movies all the time, and since COVID most of the screenings I've gone to have been primarily filled with people in their 20s and 30s. Elvis was the first time where the majority of theatergoers were people in their 50s-80s. While I'm glad that older people are returning to the cinema, I hope young people check out Elvis as well. I'm in my 20s and have no strong feelings on Elvis as an artist, but the movie itself was very well crafted.
I don't think Elvis will compete with Lightyear though as they are targeting very different demographics.