I like it
I enjoy this schlocky film. It has some clunky trailer lines, good gore makeup, and a simple story.
The biggest change in the genre is the way Punhead goes from being a lovecraft style monster into a slasher villain. Pinhead and the cenobites were always in the story, but they had no interest in the goals or intentions of the antagonists or protagonists. They just wanted souls to bring into their warped world of torture, pain, pleasure, and mutilation.
In this one, the intention was changed to world domination. But, for a sequel, it's still fun to watch Douglas Bradley play a maniacal villain.