Overrated. Murnau's Nosferaty is better than this
Nosferatu is far better than Browning's Dracula in every aspect. You can see that Dracula is just a stage play dressed up as a movie. It's not scary at all. The "exetrior" scenes are just a set. Nosfertu, on the other hand, in spite of being 9 years older than Dracula, is still scary and creepy as hell. Max Schreck is totally terrifying, the movie itself is atmospheric and the castle looks much more real and scarier than the Universal version. Also, one detail I'd like to point out to compare the films, is that, when the ships arrive at Wismar/London, and find the captain's dead body, in Nosferatu, we actually see the captain's corpse (which is really "hardcore", taking into account the time Nosferatu was made), while in Dracula, we just see the dead captain's shadow.
Seriously, if people found Dracula scary, Nosferatu must have given them countless nightmares.