If the Patterson Film was the result of a few hundred buck’s spent on a costume in 1967, then Hollywood should fire all its special effects engineers for not doing better with budgets of millions of dollars.
There have been numerous such cases of “Ape Men” that just turned out to be apes or some other such animal of course. (I believe Panda Bears and the Mountain Gorillas of SE Asia were once “mythical”).
I imagine this is the case of Big Foot as well. (Along with the numerous hoaxers out there). I've heard a few stories directly from reputable people that to me makes it seem a bit more credible.
On the other hand I hope they don't figure it out in my lifetime that it is just some rare ape. What fun is that!?