I certainly didn't hate it, I enjoyed myself while I was watching for the first time, but I do agree it is overrated. I think it's one of those movies that probably loses some of it's enjoyment with repeated viewings. It definitely is not as good as many others have made it out to be though.
I liked it, even if there were time I couldn't see, fully/exactly what was going on. but I like senseless slice and dice with weak plots, because they tend to make up for it with killer slice scenes well those scenes I could see there was just something wrong with the filter or something :/
In my opinion, it was more a mockery of the classic horror movies. Put everything that you like of all the movies in a blender and try keep them together with a senseless or stupid plot. I donīt even reach the end. Again, is just my opinion.