Either the director/actors took this film way too seriously or this is all one supposed to be one big parody of the Blair Witch Project. If it's the former then how embarrassing for everyone involved. If it's the latter, then it was too subtle on the parody part of it. Unfortunately it never comes close to reaching "so bad it's good" status. It's just bad.
The thing that will make you the most uncomfortable watching this is knowing anyone involved in the making of this movie no longer has a future in the film industry. You watch 90 minutes of people ruining their careers and it's hard to watch.
Only thing keeping this from getting one-star is the makeup effects in some of the shots. Kudos to anyone who still uses practical effects.