How bad is it? Poor plot, poor acting, poor production values.
Should you see it? I think not.
I never saw the original "Jacker" [Gasp! There's a film I haven't seen and I admit it!] and I may have missed some plot points because of that. The film starts where the last one ended, with a guy going splat, but it turns out he lived. There's some police procedural - and three cops played by the same guy, one with a ridiculous wig - and then a carjacking of a carjacker. Shot on video, this has no visual appeal and even has a visible lens smudge that never gets cleaned. The supernatural element of this adds little (the jacker can't be killed and is malevolent as hell, literally). The deaths are meant to be gory but are underwhelming, the performances are at best weak, the direction aimless and the story moronic. Yeah; I didn't like this one.