Terrible, but in a mostly fun way.
Chock full of blunt exposition, awful logic and bad character choices… but that’s kinda what it’s going for?
It wants you to be yelling at the screen, wants you to be engaging with its trashiness—it’s explicitly stated in the opening sequence that this ain’t “elevated horror”, this is schlock.
Still, for all its pseudo-meta commentary, its not especially clever, nor does it really bring anything new to the franchise other than waving its hands around and pointing out things it knows about itself.
Probably best for a drunk watch with low expectations and heckling.