How bad is it? It combines the badness of giants and killer beasts without adding anything.
Should you see it? No.
I come from the land of the Paul Bunyan folklore, so this film's badness is personally offensive. Adolescents sent to a work camp take some bones they find, which just happen to be from Babe the Blue Ox and that causes a rampage by Paul Bunyan, who is nothing like the legends, but just a typical homicidal maniac that happens to be quite large (creating questions of how he stays hidden, a problem noted in another SyFy film about Bigfoot I reviewed earlier). Dan Haggerty and Joe Estevez go slumming in this, where the CGI is poor (but not terrible), the acting is poor (but only reflects a bad script and direction) an the only thing not completely predictable is how a legend gets trashed - next time, perhaps Cinderella will be an unemployed steamfitter trying out for the NFL before going on a rampage.