It used to be that if you had a half-assed idea for a movie you'd throw out a premise then tack on “in space” at the end. ("It's just like 'The Magnificent Ambersons' but in space!”) Today, when you've got a flimsy scenario, you can always just tack on “shot found-footage style.” That means low-budget, and it also means a proven track record with the insatiable teen horror audience always looking for something that doesn't require full attention whilst on make-out dates at theaters or on couches.
'Europa Report' tries to do both. It follows a science team who's in too deep (...in space), and it's found footage of the feed beamed back to Mission Control. Nothing in 'Europa Report' is fresh but it does go down easy.