If it wasnt made under the halloween banner then I think it would be a decent slasher movie, however I think its too brutal in places, its muddled with lots of tonal shifts, it looks like a music video and some of it is embarrassing ( the love hurts scene and Mcdowells acting in particular).
If it had been a straightforward installment of the story and didnt try to reimagine the back story in such a cliched fashion it would have been more palatable, it kicks the ass out of the other sequels on many levels though.