I have only seen the trailer, but the basic premise for this movie seems to pit "human" against shark. This seems to be very similar to the story-line for the Jaws movies. I am sure that it is more updated and has better camera effects/ computer graphics, but at the end of the day, it is still a movie about battling with a shark.
The Shallows movie is out and it is as good as Jaws, according to several reviews. Blake Lively's performance has been described as compelling and one of the major reasons why The Shallows is believed to be worth watching. Being a supernatural thriller it adds up to the action and suspense.
Jaws is a cult classic, a modern film cannot be comparable. Watching Jaws as a kid was terrifying, The Shallows looks boring in comparison. I'm sure the special effects will be much better, but the storyline looks weak and doesn't seem like it will have you on the edge of your seat.
No, The Shallows will not be comparable to Jaws. Jaws is an original classic that any modern film would very likely not try to recreate or compete with because of the criticism it would likely receive. Maybe it won't be as good, but The Shallows will likely be a unique new film unseen to the public.