There’s two things wrong with this movie. First, we don’t need another talking live action dog film. Secondly, Underdog is anthropomorphic and lives in a world of anthropomorphic animals.
The only thing that seems to be taken from the original is the name and the costume.
Compare and contrast:
They couldn’t even get a dog with black ears? I smell boycott! Oh wait, I’m already boycotting crap in general.