How bad is it? It's one of the all-time worst, though apparently intentionally so.
Should you see it? Yes. By all means.
That said, the movie's very funny. The special effects are the worst, just computer icons add in post with flapping wings that never fly, or even move out of formation. And people attack them with coat hangers! Then they explode, spraying green goop over the actors, who have priceless reaction shots. The plot is braindead, most of the "action" is static, the leads are forgettable. The audio cuts out, seemingly at random. It's terrible, but enjoyably terrible and the fact that it's intentional only slightly dilutes the fun.