I liked this film for what it was trying to be and what it was. Not what a horror movie should be. If you have friends and enjoy watching b-side horrors, or even just mocking normal films, Then you should appreciate this film. It has a very home-made feel to it for obvious reasons! and although some would accredit this to the poor quality of the film its what makes it what it is. This film was made by a group of friends, for groups of friends. Its not made for movie connoisseurs or critics. Its meant to be lighthearted and playful. In my eyes this is a very low budget prequel to the grindhouse compilation: In the sense that it both mocks and holds upon high the nature of the b-movie (A little less of the latter in this film haha).
My summary is just watch it. If not for the subtleties in the acting which clearly portray its casual nature, then for the fact that its very name is "the worst horror movie ever made". If you are focused and watching it and find after half the film you haven't chuckled even once then don't bother with it! It's clearly not for you.