Failed to parse project metadata and information. File may be corrupted or have the wrong extension

Ive got this problem where I've shared my iOS iMovie project via airdrop to the 13" 2015 MBP to eventually tweak and export in FCPX.

The import process ends up with the above error message but I noticed all my video files were bing transcoded ... this stopped after a few minutes and non of the assets were visible anywhere in FCPX.

iMovie simply gave me the error message.

Its interesting that iMovie iOS is set to store projects in iCloud but when I look for them in iMovie OS there is nothing to see. There seems to be a serious issue here as nothing is helping me to finalise the video in FCPX.

iMovie is ok but incredible hit and miss when you want accuracy in placing assets. Its very powerful on the iPad Air 2020 and I'm positive it'll perform better that my trusty 2015 MBP.

At the end of the day I'll be buying the new M1 Mini and MacBook Air for my production and donate the 2015 MBP to my son so the solution, whilst it would be great, isn't hugely important.

If we don't adapt we die