T2 was a groundbreaking film at the time and Star Fox 64 came out some years later so it's entirely possible that the devs were inspired by this one scene.
The various movements lining up (they both lower their heads for example) does lend credence to this. Star Fox 64 also references other movies as well. The Saucer fight on Katina clearly draws inspiration from Independence Day. Besides that the towers on the surface of Bolse *may* be a reference to those seen on the Death Star, but that is a bit more loose.
