If you just edit the movie from the predator's point of view, the movie might work. As a teenage drama, it doesn't work. Although, I don't think Johnny Lewis is a bad actor playing a troubled kid, he turned out to be troubled in real life. The other actors did not do very good with the script they were given (I don't blame them), but it would work perfectly if it was from the predator's point of view.
You could edit it down, cut out the teenage drama stuff. "Who ordered the meatlovers".. just putrid dialogue and scenes.
If the movie was just about the predator going to the town and dealing with the aliens, you wouldn't have this problem. Would be a fun b-movie like Critters 2. Maybe the predator could even use pizza boy as bait for aliens.