How bad is it? It's both better and worse than the title suggests.
Should you see it? Don't go out of your way, but if you like 1980's gore films, then maybe.
This was shot on Super-8 video, with post-synched sound and there's a lot of mouths moving to different words than what you hear. It looks like there was an attempt to punch up the humor in post-production. Zombies (mutants) are created by a chemical company's punching a hole in the ozone layer and then they create new ones by puking on them. There's a female environmentalist hero going against a male industrialist and they do not end up romantically involved, fortunately. Not much happens for 80 minutes, then there's a lot of carnage that's way over the top, but not done particularly well. In the mean time, you get treated to such things as a geriatric redneck drunken karaoke contest.