Wow. So this definitely falls into the 'so bad it's really, really bad' category.
Every single aspect of this film is executed to the lowest of standards. It's moronic, boring, ugly and complete and utter crap. Everything seems to be covered in this thin layer of discount CGI. I imagine this is what the Matrix 1.0 must have looked like when the machines started building it. From the pixel heavy sharks to Tara Reid's face, everything looks fake and wrong.
There are people out there who seem to have taken a liking to Sharknado. To be honest, compared to other Asylum fare it is passable. But comparing shit to shit doesn't change the fact that you're still looking at shit.
So yeah, it's shit.