How bad is it? Troma wouldn't release it (and they filmed Lloyd Kaufman saying so).
Should you see it? No.
Alumni of "Jackass 2" and "Orgazmo" create this "mockumentary" that supposedly started as PR for "J-Town" and quickly became a search for a local legend. That search takes 5 minutes. Bathtub races get disrupted by Molotov cocktails. Then they find Lucky with his grandfather in a cave and there's a lot of talk. There's meth-heads. There's white guy rapping. There's old guys (including one that's a young guy in a drugstore Halloween old man mask) with young women. There's a whiskey bong. There's an unbelievable number of title cards - more than you would find in an old silent film. What there isn't is plot, character or visuals. This may have been an attempt to make a cult film by making the worst film they could.