There is a third option which is that it's all a psy-op. Either way the way we are thinking/talking about this is insane.

Eric Weinstein has several great threads about this, but I'll summarize some of his points. The military itself is saying it's aliens without using the word alien. It doesn't matter how you read this story, it should be the biggest thing. If there's aliens, it's the biggest story in history. If the military is pulling the wool over our eyes in a psy-op, it's a really big story. If we've been significantly outclassed by a foreign military tech, that's a huge story. But we're not talking about it like this. If it's aliens or enemy military, why are we not collecting our greatest scientists/physicists to work on this?

None of it makes sense no matter which narrative you think is most likely.