What was the point of the Magificent Seven film?

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It moves through the plot all right, but there's not a single thing in it that you haven't already seen in a thousand other Western movies. Also, there's hardly any character development beyond the fact that the 7 come from varied ethnic backgrounds, like to banter, and did things during the Civil War. The Kurosawa film is about a gazillion times better than this assembly line schlock - you get so much more emotionally involved in the characters in that version. I don't see why they even made the new one except to cash in on a known commodity - it had nothing to add to it's source material. but that's just my not very humble opinion. What did you think?