Well, its not bad, per se, but its certainly flawed. But there are some good qualities to it.
Gameplay involves you navigating environments, activating one waypoint after another, gathering keys to move on to the next area, invariably there's some kind of jump scare you have to trigger or that's in your way. The gameplay is very simple, and very slow paced, you walk veeeeeeeeeeeeeeery slooooowly, you explore murky and dingy places with your flashlight and try to finish the 'course' before your flashlight runs out.
Its just a little bit like Echo Night: Beyond, but without the character interaction. The graphics are better then most Wii games, but as we all know, that ain't saying much. The game is actually kinda clever in how it simulates the experiences of any of the protagonists of the movies (pale boy walking about, strange noises, etc.). The game appears to have little to no replay value, and appears to be quite short. So far, I kinda like it, but its not for everybody. I'm a sucker for any game that has investigative qualities, and here's one, so that suits me just fine.
I will trade it in for credit though, it ain't that good.