How bad is it? It was shot in a week and looks it.
Should you see it? I can't see why you should.
This is a Charles Band "Full Moon" production, which is always bottom-of-the-barrel, and a first attempt at stoner humor. Having Tommy Chong in the cast is a nice touch, but doesn't help. The giant bong in question grows a face and traps souls in another dimension. There are only two sets, endless references to other films by Full Moon and a cameo by Tim Thomerson. I chuckled exactly twice.