Not that I was a huge fan of the original Avatar, but I've now watched the trailer for The Way of Water twice and I'm not impressed.
The new one, at least in the trailer, is 100% CGI and it looks like a cutscene from a decent video game. It reminds me of version 2 of a game that is technically more complex but they used the same engine so it isn't that much more impressive.
I think I'll be skipping this one.