I figured that since I watched each of the Alien movies a few times, plus a number of forgettable ripoffs, I must have watched this type of story for two dozen times or more. So the most important thing for me in Alien: Covenant is whether it can execute its own formula well enough to be exciting, have something new, and whether it manages to avoid being a complete rehash of itself. The answer is mostly yes.
The second thing is whether it expands the world of the Engineer species, and answers really important questions raised in Prometheus (2012) – why they created mankind but still wanted to kill them, what the relationship is between Engineer and aliens, if they created the aliens what their plans are, etc. Unfortunately, no answer to be found here. We get a really short glimpse of the world of the Engineer and then nothing more about them. Well, at least we learn the fate of the survivors from Prometheus. If it’s not clear by now, for anyone who wants to fully appreciate this story, watching Prometheus first is mandatory.