How bad is it? It's a barely-passable low-budget throwback to the Universal monster glory days.
Should you see it? Sure. It's crap, but it's endearing crap.
The director of "The Double-D Avenger" went on to make this film, which didn't go straight to video. Renegade scientists revive the Frankenstein monster and a Creature from the Black Lagoon-ish monster and plan to control them and use them for good, but the amphibious creature escapes and starts attacking people on the beach. The Frankenstein monster is then sent out to stop it. It's a little like a classic Universal monster film, done very cheaply, updated with more nudity and violence. It's not good - the acting especially is iffy - but it's quite watchable (and light years beyond his first film in quality).