How bad is it? A pretty good plot is ruined by poor effects.
Should you see it? Yes.
Directed and produced by Roger Corman, this has the head of a cosmetics firm using wasp enzymes to rejuvenate, but it also turns her into a bug monster. This was remade at least three times, as "Evil Spawn," as "Rejuvenator" and under the same title in 2012 by Jim Wynorski (who directs a lot of trash). One interesting side story about this film is that actress Susan Cabot's son in real life was given injections of growth hormone to treat dwarfism, but they resulted in serious side effects; this has a minor parallel to the plot of the film.