How bad is it? It's a SyFy film directed by Jim Wynorski, so not good at all.
Should you see it? If you're into these SyFy films, this is one of the better bets.
I liked Jim Wynorski in his early years, but he's gotten shoddier with every film; fortunately, he does have a sense of fun that carries over to his projects. This is a sequel to "Sharktopus." A scientist steals an egg, meets a film crew in Hawaii, all of them get kidnapped and then the giant parent piranhacondas come calling. First they kill a tourist, then some scientists (who seem tacked on), and then the kidnappers. As usual with a Wynorski film, there are a lot of women to ogle - though a few are getting as long in the tooth as a piranhaconda - and there's plenty of action. The title song is probably the best part. There are some serious logical problems, but that's to be expected. Michael Madsen and Rachel Hunter star, making this bigger budget than most SyFy films.