So many things they got wrong
This had an alright premise (although people somehow ending up in a movie isn't the most original idea, it's still fun and could have helped pointing out some horror cliches).
Unfortunately the set designer and director didn't get the look right at all. Nothing about it resembled the late 70s or 80s charm, which the original movies had. Not the hair, nor the clothes. Instead we got bright shiny flowers that looked like they came out of Nirvana's "Heart-Shaped Box" video. A movie that did a much, much better job at that vintage look (but not much else) was "The House Of Devil".
The music was completely wrong, too, up until Warrant's "Cherry Pie" – and even that was way too high-profile for a cheap 80s slasher flick. Should have been obscure hair metal bands or synth songs all the way through.
What was up with Billy's stupid mask? I get that they were trying to come up with something that resembles Jason's ice hockey mask, but isn't exactly the same thing. But couldn't they have thought of anything better?
The story didn't make sense at all. Why were Malin Akermann and grown-up Billy in the flashback the second time? Why did it take Billy longer to get back out of it? Why did Billy not kill the first guy immediately, but just stood there waiting? How did they get into the movie in the first place? Why was everybody around for the sequel?
And, worst of all, the parody wasn't on point at all. Why was Malin Akermann the shy girl, but not the heroine? When has that ever happened? The shy girl IS the heroine. The cool rocker girl, who was supposed to be the final girl, originally? She would have been killed before the second act was over. The jock and the "bimbo" were way over the top, too. They had little to do with the original cliches.
Ugh. It's a pity, because if done well, this could have been a cool movie for horror fans to enjoy.
We learned more from a three minute record than we ever learned in school