How bad is it? It is the most generic slasher film.
Should you see it? Have you seen a slasher film? Then, no.
This is a film about a psycho who escapes from an asylum and goes home to finish off his family (which is why he was locked up) and he manages a pretty high body count by film's end, because his sister happens to be staying with friends. There's the expected gratuitous nudity, the acting is hit-and-miss, the camera work and direction are sloppy (it was filmed on video) and the gore unconvincing. It's only the pacing and the novelty of the deaths that keep this from being a complete loss; the killer's demise comes in an unexpected way.