The hysterical awfulness is obviously intentional. It makes sense: you can't beat 1974 in terms of serious scares. This remake is a bad movie if taken straight-faced, but is semi-fun if on the same wavelength. It's one of the better, amateur mainstream films of its decade, like The Room if Tommy Wiseau was in on the joke, but competent in directorial technique. The momentum is hurt in its 2nd half repetition, though.
A paint-by-numbers kind of slasher movie, enlivened intermittently by those scarce moments when director Glen Morgan channels vintage Brian De Palma and giallos. Perhaps this remake's biggest flaw is that it has zero subtext - the film isn't about anything, except reinforcing the horror movie stereotype that people who experience psycho-sexual trauma as children will grow up to become homicidal maniacs.
This film just checks-off everything on my list of what makes a bad slasher film. The protagonists are unlikable and/or have no personality whatsoever. The direction is scattershot, often focusing on background items that aren't important. The scare sequences are badly edited and are completely devoid of logic. In short, this film isn't particularly scary and it isn't particularly entertaining.
There are moments where the sheer, go-for-broke stupidity of this almost becomes inspiring, but there’s not a single real scare in it and it’s too grim to qualify as camp. Still, quite interesting to see another company tackle an early-aughts remake besides Platinum Dunes and do it with quite a bit of reverence and color, especially considering it came before our nostalgia porn-heavy current era.