How bad is it? It's a middling waste of time.
Should you see it? No.
Combining The Terminator and RoboCop, this film is about cyborgs designed to mete out justice and a human alliance that plans to take them down. The opening sequence is good, the final sequence is good, but everything in between drags. Don 'The Dragon' Wilson and Richard Norton star and it's interesting to see the two together (neither are in the sequel), but that's not enough for a recommendation.