How bad is it? It's not even the 4th best film with this title.
Should you see it? No.
The campfire story of Bloody Mary, whose name repeated 3 (or 5, depending on the teller) times into a mirror, brings her into existence, has led to a number of films, including the very good "Candyman." This takes place among student nurses in a hospital and there's plenty of (brief) nudity and mild gore - Mary is a collector of eyeballs, for no discernible reason. Mary seems to take control of people, forcing them to bring her new victims, including a guy with a lot of face sores whose presence doesn't make much sense. The film moves briskly, some of the acting is passable and some poor, but the plot has huge holes and there's no payoff beyond the mirror getting broken.