How bad is it? Dull, cheap and ruined by some bad special effects.
Should you see it? Nah.
This film has two sequels, which is hard to believe. A woman who drowned her child becomes The Weeping Woman of the title, a phantasm that abducts the children of others. After a decent start, where avoiding a child in the street leads to a car accident and then a missing child, the film bogs down, becomes talky - and at least one person mumbles all lines inaudibly - and ends with some of the worst green screen effects ever; the river of the title isn't even real. It's inept, but not without merit, but also not with any charm.