How bad is it? It's among the worst films of all involved.
Should you see it? No. But - the commentary is worth hearing!
This Albert Pyun film stars Ice-T and was filmed in eastern Europe, which is supposed to stand in for an American ghetto. Most of the cast doesn't speak, because they don't speak English. The plot has something to do with an uneasy truce between two gangs, but it really doesn't matter. One death is bad enough that I think the guy doesn't hit the ground until several seconds after being shot. The music, not to my taste, is okay. The film runs just over an hour, but seems much longer due to tedium.
What I couldn't understand is how some people love this film. Then I listened to the commentary track by Ice-T (so I spent more time on this crap than expected) and he trashes the film; it's fun to hear him talk about how bad the film is... and that's why some recommend this.