The movie was bad and you should feel bad for liking it. First movie I ever walked out of the cinema over because I couldn't stand to sit there another minute.
The only ending that could justify sitting there would be Godzilla appearing, kicking it around and then that American Godzilla with a foot the size of a bus but also 10 times bigger than a bus and as big as the empire state building but able to hide inside a shopping mall coming along and kicking some more !@#$% out of it.
Things aren't scarier when you never really see them, just more annoying.
Just my two pence.
I don't feel bad for liking it because I am a fan of the giant monster subgenre (or kaiju) and this was a very refreshing way to tackle the subject matter.
The point wasn't that you don't see anything, it's that you see as much as you probably would if you were a regular person in that situation. To me the movie worked so well because it took your average Godzilla movie and completely changed the perspective; we see bits of military attacks and news casts, but for the most part these are people on foot, looking up from the ground at something gigantic. The helicopter angle near the end was a nice throwback to what you usually see in Godzilla movies.
I also enjoyed the whole camera concept, how stopping it would bring up content they were taping over. Mind you, the movie does run about 10 minutes longer than your average DV tape, and somebody wouldn't be able to capture all of the footage while running as they did, but for the purpose of storytelling, it's fine.
Oh and the best thing about Cloverfield? It was an original idea. Not many of those around anymore.