How bad is it? It's a movie about lap dancing - what do you expect... Othello?
Should you see it? No. It wouldn't hurt much, but there's no reason to see it.
Released to capitalize on "Showgirls," this is about a girl who moves to Hollywood, can't get a role as an actress, gets convinced to become a stripper and starts thinking she might be bisexual. The lead male character is blind, one dancer has a violent boyfriend and one is a nympho. In the end, the girl gets a role in a film (go figure). There's a lot of silicone on display, but not much acting. The dialogue often is drowned by the music, which, if you've ever been to a strip club, makes that the one realistic thing.