The plot has no obvious continuity issues, and the scenes are carefully thought out, if a bit naive - but in a positive, honest way. It could even be called a spiritual sequel to the 'episode' with the demon girl in V/H/S, the influences are clearly there but the story is constructed separately, in a neat narrative. The actors are refreshingly on par, nice chemistry between the cast shows through which is always good. The movie is not a huge production, and it does not try to be. This is a good thing because it shows focus on what can work. And it is not lazy or jaded, nor does it look 'poor'. The few downsides it does have come naturally from a lack of budget, but they are not distracting. Other than that, it manages to feel like a properly engaging movie.
I am certainly not sorry for spending the time to watch it.