Hey, at least that'd be something. You can say, "OK we're going to get someone to invest $50 million to make a Wing Commander fan movie with real actors and fancy special effects and it'll just look so totally realistic," or you can be reasonable and take a more dramatic approach (in the theatrical sense) and let people fill in some of the details with their imaginations.
Remember, before CGI, there was stop motion animation. Up until something like towards the end of DS9, all of the ships in Star Trek were done using models, not CGI. Give people a background, and I think it'd actually be kinda cool for somebody to do a WC using their living room set and micromachine space fighters. With stop motion, part of the magic is seeing seemingly real but inanimate objects move (for example, imagine a talking LEGO men effect). Red vs. Blue, for all its popularity, was mainly dubbing overlaid a video of people nodding the heads of video game characters. The thing that made it interesting for people was the dialogue and the characters, not the versimilitude of the effects. [edit]The effects in the (original) Star Wars were also all done without CGI, using stop motion, models, camera motion, explosives, and drawing directly on the film (!) for laser effects. Granted, they may not measure up to what you'd see in a modern film, but they're certainly a lot better than what most would expect out of a fan movie, either.[/edit]
Personally, I think it'd be cool for somebody to do a whole movie using "live action stop motion" with human beings instead of models. I mean, sure, you can just film the actors in motion, but just think of the novelty factor. And you could probably do some nifty effects, too.
I also don't think hand-drawn animation is necessarily harder than CGI animation, especially if you're not aiming for perfection. The problem with CGI is that you have to adjust a bunch of vertices to make characters move. You can make that easier using skeletons, but you still have to tweak it over and over again. It's not like live action with computerized actors (although they're moving in that direction, it's not there yet, especially with commonly available tools). With hand animation, you can just draw out some lines in the way that feels most natural to you. The main trick is drawing the same thing over and over again with consistency, but for a fan animated movie, it wouldn't have to be held up to commercial-quality standards. We would very likely accept something well below TV cartoon fare.