How bad is it? It's considered by some to be a classic among bad films.
Should you see it? Yep.
David A. Prior has directed a bunch of terrible films, many, like this one, starring his brother Ted, whose been in terrible films without his brother's help as well (for the record, even Ted's wife gets mentioned in one review on this blog - go ahead, try to find it). This is a remake of 1932's "Most Dangerous Game," which has been done countless times, with some "Rambo" thrown in. A team of mercenaries is being trained by hunting kidnapped civilians. Then they capture the wrong guy - he impales people on twigs (?!), never picks up a weapon (cut-off jeans and a mullet will serve), throws Styrofoam boulders and beats a man to death with his own arm (this, unbelievably, is the third film in which I've seen this done! See "Monster and the Stripper," for example). There are plot holes a mile wide; no one calls the police, or gets back up, or uses weapons at hand. The acting and direction are strikingly bad. Fortunately, it moves along briskly and has plenty of ludicrous moments, my favorite being the hiding in plain sight one.
Added: The very belated sequel "Deadliest Prey" (2013) is, surprisingly, very much the same. After a quarter century of experience, little was learned and the film was not a self-aware self-parody, but an actual sequel that is worth seeing.