It's not that bad. The cinematography/editing is better than it has any reason to be. You definitely need suspension of disbelief to enjoy this and, as others have said, it would've benefitted from either being scarier or more tongue-in-cheek, accomplishing neither in the end.
Dull execution in what could've been a fun, midnight film, or dark and twisted. Clown doesn't really ever click on a horror, comedy, or even a character level. The first 1/3 is exposition, and the middle is, well, mostly exposition with a hint more of non-effective action/horror. In the final third, the child-murdering clown starts his spree, but due to the depthless victims and lack of suspense, it's never creepy.
In "Clown," a once doting suburban father eventually gives in to his growing lust for the flesh of small children. It's the kind of premise that seems like it must be an allegory for child predators, but the filmmakers aren't quite bold enough to go there. That said, "Clown" is more concerned with creating an atmosphere of hopelessness and dread than you'd expect from an Eli Roth production, which is appreciated.
Clown wishes it was The Fly and fails to live up to Cronenberg's body horror classic in every way. With a paper thin concept, I lost interest quick. The make-up FX are easily the film's strong point and Watts is a capable director but doesn't illicit inspiration. Eli Roth may be the biggest troll working in horror. I'm glad he was able to help Watts make this film. I guess he isn't a total narcissistic. This sucked.
Gave this a shot on the back of Watts' excellent 'Cop Car', but this wasn't a genre flick of the same pedigree. Halfway between comedy and horror, with the first half especially committing to the hilarity of the premise before we finally get some violence and cool design toward the end. Bad characters, should have been sillier or nastier (odd to say in a film built on child murders).
The film is definitely an interesting addition to the clown horror genre, with production being manned by Bob/Harvey Weinstein it's kind of hard to go wrong in the grand scheme. The lack of music in places (such as the habit-trail scene) creates an incredible suspenseful feeling, the makeup on Roth as the fully-formed clown was downright disturbing, and I would watch again simply to watch the bully kid get killed.