Many people here have already pre-dismissed it, along with every other reported sighting, by ruling definitively that it's a social or psychological phenomenon.
In fairness -and referring only to myself- I think there's some truth in that. Perhaps more along the line of "I don't accept any reported sighting that I know of at the moment as evidence of alien intelligence", mainly because (1) there is no convincing corroborative evidence,
(2) many high-profile sightings / accounts of meetings with aliens turn out to be hoaxes, misperceptions, etc. etc.
(3) perfectly decent and reliable people also report detailed encounters and communication with diverse people from religious history, notably Mary mother of Jesus but also figures from other religions. Such manifestations are almost always culturally specific.
If (3) reflects objectively true events- real-time communication with a sentient being who lived many years ago- it raises more questions, and is arguably more significant, than the existence of aliens.
There are numerous examples of sober, responsible people giving confident accounts of what they have witnessed/ experienced where it has later been shown they were objectively wrong. This can happen even in serious situations where the information provided might have a real impact on the life of the witness or others, e.g. investigations of serious crime, military situations, recollections of other important events.
I don't think this means witnesses of strange events, or people who recount demonstrably incorrect details of more mundane events, are lying, prone to misperceptions or even necessarily giving an account at odds with what they perceived at the time.
But we can't overlook that despite many thousands of reports of UFOs (and a smaller number of sightings of aliens), ghosts, psychic phenomena, large cryptids (Loch Ness monster, Yetis, Bigfoot, Chupacabra) etc. there isn't any real testable evidence for any of these things- just anecdotal accounts and the occasional blurry photo. (And bits of metal that turn out to be bits of metal from Earth/ parts from a small windmill. Exploited remains of deceased Nazca people. A leopard skull from a rug, etc. etc.)
We don't regard our own strange experiences or observations as anecdotal accounts, normally we have to rely on our own perceptions and memories (and we're usually right to do so). It's clear that people believe they see "weird shit".
However, a single person's experience, however truthfully recounted and however reliable a witness they might seem to be, is still one person's subjective experience and if shared it's anecdotal evidence.
By itself, it's not a sufficient reason to accept the experiencer's claim, especially if adopting that claim has real implications for our understanding of science and objective reality.
For instance, I think it would be wrong to teach young schoolchildren that because lots of people have seen UFOs, it's very likely that aliens are visiting Earth.