Honestly, I always enjoyed the movie, mainly due to nostalgia (it played a big role in my childhood). It was the first giant monster movie I ever saw. I had quite a bit of toys from the movie, some of which I still have (a couple of the babies and a Taco bell figure) and some that sadly did not last (particularly a 3D eraser and a "Power Blast Godzilla" remote control figure). It was the movie that helped make me the Godzilla/Monster movie fan I am Today, so I could never dislike it.
Was it a faithful Godzilla movie? No.
Was it a good movie? Not particularly.
Is it an enjoyable movie. In a ways, Yes.
I think the movie had some cool ideas. The idea of a giant monster laying hundreds of eggs and the fear that these creatures could continue to multiply to the point that they could become the dominant species, wiping out humanity and other creatures, is kind of a cool premise. The problem was that it didn't fit Godzilla.
To be honest, I actually think that the first 30 minutes of the movie is really good. It does a great job at building up the creature and setting a somewhat mysterious tone. However, the movie starts to fall apart after the creature itself is revealed and you realize that it's not the true Godzilla. Ironically the movie starts out really similar to the 1954 film, a group of fishing ships are attacked, one of the survivors links the disaster to an old legend of a sea monster known as "Gojira", and there's even a scene where the creature comes ashore at a village with the military investigating the aftermath of the attack and finding giant radioactive footprints (which if you look on Google Earth/Maps those footprints are still there on Kualoa Ranch).
Honestly, after 23 years, I don't think it deserves the hate anymore. it was a massive misfire, I get why fans were outraged at the time, but constantly throwing hatred at it now is kind of pointless. And I don't think it's fair to criticize it for being different especially now, considering how different and experimental some of the more recent Toho entries are (Seriously, I'd take a mutant iguana laying eggs over a metallic plant thing that barely does anything). And at least some of the people involved, have admitted to their mistakes, unlike the crew behind a certain anime trilogy who continue to show distain for the fandom, insulting them for not being "smart enough" to get it, and viewing themselves as above the franchise... but I'm not here to rant about that.
Overall, while the fanbase can still dislike the film, I don't think that it still deserves the hate. It happened, it's been 23, it's time to get over it.
"Neither beast nor man. Something monstrous."