How bad is it? It's an obvious (and desperate) attempt to be a cult film.
Should you see it? If the title sounds good, you'll get what you expect.
This is a sort of cross between "Showgirls" and "Return of the Living Dead" with even a reference or two to the plays of Ionescu! The government of the fourth term of George Bush (that's actually my favorite joke) creates a virus/chemical that infects a soldier that then infects an underground strip club in Nebraska, turning the girls into the titular Zombie Strippers. The attractive porn star Jenna Jameson stars along with Robert Englund. The intentional jokes are scattershot.