Terrifier 2 is insanely gory. The kills in Terrifier 2 are absolutely nuts. The pain Art inflicts on his many victims competes with some of the most grotesque fatalities in Mortal Kombat and then some.
The characters are flat, the dialogue is bad, and the plot is absurd; it fails to build any suspense and therefore lacks the stakes that make a psychological horror film scary. But Terrifier 2 is not a psychological thriller, nor is it pretending to be. And that's why it's fantastic.