How bad is it? It's a failed comedy, my least-favorite kind of film.
Should you see it? No.
A movie producer first plans to steal copies of the competition to give his film a bigger opening, than to kill the other producers so he can take all the profits. It's meant to be a satire on Hollywood - but that's been a million times, and always better - and it's only draw is the cast: Gary Busey, Joe Estevez, Joe Cortese, Tom Sizemore, Daniel Baldwin. There's a musical number. There's fake films like "Amish Heat," which isn't as funny as any from the show "30 Rock" (e.g. "Sherlock Homey." "MILF Island"). The only interesting thing is that each murder is an homage to a better Hollywood film.