How bad is it? It's the worst TV movie pilot for a comic book series, which is a low standard.
Should you see it? Yes, it can be enjoyed straight or as camp. It's easier to enjoy as camp.
This is NOT the similarly titled film starring Samuel L. Jackson, but an earlier TV movie starring David Hasselhoff. It also has Lisa Rinna, who keeps the Hoff from being the worst actor in the film. Terrorists threaten to release a pathogen in Manhattan unless they're paid a one billion dollar ransom, so Nick Fury is called in to save the day. If you aren't looking for the flaws, it's a passable timewaster, but if you look, there's continuity errors galore, plus models that children could make. This has a cult following, but I don't know if they're also fans of the comic book, which I've never read. It looks like they tried for an "Escape from New York" vibe, but it looks like it was hard for some of the cast to take it seriously.