Thunderbirds was a fascinating show because, while it was a children's show told with puppets and models, it took itself deadly seriously. According to a friend of mine this is because 1966 predates the invention of irony. Thunderbirds combined cool machines with some interesting characterisation and highly advanced deadly physical peril such as would only be possible a hundred years into the future. Sure, the Hood and Kyrano are hokey characters and everybody smokes all the time, but there was some interesting science fiction concepts in there. If you go into the TV Century 21 comics (of which I have some reprints) the budget and stakes are upped even more: there's a story where a gigantic indestructible malevolent alien from Jupiter runs rampant in Brazil, turning jungles to stone, there's a story where Brains gets killed and the Hood nearly destroys Tracey Island.
The Thunderbirds movie dropped the ball. Instead of building on the core values of the show, it just set out to appeal to a new range of child fans. But the movie was too brightly coloured and not sophisticated enough for that to work.
It would be very easy to do Thunderbirds right. Take a conventional disaster movie. Add giant rocket ships.