Well the box office receipts for Karate Kid disprove that. As for After Earth it will likely go down in flames in the US, but it might do well overseas. Where this could all lead for Jaden Smith's career I have no clue.
The Onion piece (I know it's not serious) claims the movie has no soul. It's not the greatest piece of acting in the world but I thought it was heartfelt enough, or at least attempted to be, and it didn't come across as soulless to me. It is a simple story about a father and son connecting and the son coming into his own. It's a story about a son stepping out of from under his father's shadow, the claim many make that the Smiths have actually done by making this film together.