I really disliked the film myself. It didn't seem to know whether or not it was supposed to be a sequel or a remake. It ended up being both, which seriously hurt it. Seeing Luthor yet again didn't help.
The land development scheme initially drew a big yawn from me, but today I think that the motivation behind it was solely a concealed plot to kill Superman. If this was indeed Luthor's real plan, I wish Singer made it more obvious (instead of something that you have to think about later). Fixing just this one part of the film, for me, would elevate it to watchable. Right now, I can't recommend it. I may watch it again, some day, to see if my theory holds. If so, maybe I'll like it then.