Considering most heavy CGI movies have terrible plot and actors yes. Only heavy CGI movie that had decent plot would be Avatar and the plot of that movie can be considered stupid. I'm going to find biggest dragon and jump on its back to mate with its tube and become one with it! Oh yea!
King of the Monsters has some pretty good actors actually, but yeah, definitely a terrible plot. You're not supposed to care about the script in this film, so if you do, then it's definitely not for you, but the movie, and certainly the CGI, has some value. I was really impressed with how they managed to give these monsters so much personality without a single line of dialogue, and I think critics in general don't give enough credit to that.
And really, what big blockbuster these days isn't CGI heavy? I know what you're trying to say here, with main characters being CGI and all, but I mean, you look at behind-the-scenes footage of any current big Hollywood movie and it's always green screens galore. And I'm totally okay with that, honestly.