I'm personally very skeptical that what is being observed is of intelligent extra-terrestrial origin.
It doesn't make sense that an intelligent civilization would come all the way here just to hang out off shore enough to allow some people to see it, but not make contact. Either they want to be seen or they don't, and if they have the technology to come here, they would surely have the technology to observe us without us knowing if that is what they wanted. I can't believe that they would be smart enough to come here, but then get caught off guard and spooked by us.
All we have are eye witness accounts from a small number of people and grainy video that looks filtered though layers of software. Neither are very reliable.
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"A pessimist thinks things can't get any worse. An optimist knows they can."
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