How bad is it? Typical rubber-suit monster film hampered by a low budget.
Should you see it? If it shows up, sure, but don't go out of your way to find it.
The makers of this were obviously big fans of the monster movies of a generation earlier; they even used some of the same advertising gimmicks. Unfortunately, no one was asking for yet another "monster created from nuclear waste" film with a guy in a rubber monster suit. The suit looks like it took up most of the small budget - the script has some laughable dialogue, which is delivered by some very poor actors, the effects aren't great and everything has a cheap feel to it. It's not a terrible film.