I thought Phantom thoroughly disappointing in 1999. I cried about it on the internet together with the rest of the pitchforked mobs.
But time has been unexpectedly kind to it. It's not a good movie, but it is surprisingly rewatchable. You're never bored, as one is half the time ploughing through Last Jedi.
We're all used by now to the disappointing aspects, so these grate less. And the aspects that were good about PM have stood the time and often only made it stronger over time: the genuinely good world building, the art direction, the costumes, the pod racing, the duel of the fates.