How bad is it? Well, it's better than it's sequel, which I covered before, but it's terrible.
Should you see it? Yes. It's just wrong enough to be entertaining.
"Strike of the Panther" was the sequel to this Van Damme vehicle wannabe and I liked it enough to catch the original. There's a great fight scene with a broom handle. There's an erotic dance sequence that ends up being comical. There's loud 1980's fashion. The plot is the standard infiltration of a secret organization to take it down through martial arts deal; you've seen it before, you've seen it better done, but Aussie Edward John Stazak has some charm and can actually fight.