The ONLY saving grace is that they did away with the sculpted webs on it.
I mean c'mon Raimi, how the heck were we supposed to swallow that he could sculpt, mold, cast, digitally print, and sew a costume in 2 days yet he couldn't afford a $2,000 car to impress MJ?
Spidey's first costume can NOT be in any way, shape, or form a deviation from the first comic one and that's the end of that story.