The film wasn't great, but it wasn't awful either. It's a collection of ghost stories with some, low budget, filler to link them together, I'm not really sure what other people were expecting from an anthology from an unheard-of production company, but this fulfills the brief.
I actually rather enjoyed the film, the idea of making offerings to the dead and the dead making their own offerings in return, was quite novel. And the stories the dead sent were pretty good.
I really like Asian mythology, so the short stories were exactly my kind of thing, but the stories rarely have a moral or a nice neat ending, which I know annoys a lot of westerners. If you don't like that type of story, don't watch the film. Even the characters question the lack of point or moral to the tales.
If you like Geodam or Junji Ito Maniac, then you'll probably appreciate this film, but if you don't like the "s**t happens" approach to story telling, this will be frustrating. There's no explanation for most of the things that happen in the stories and most of them are completely open to interpretation. Which is what I find interesting about them.