I think it could have been a lot better, especially because it had taken a lot of the visuals and ideas from the first film. I actually had a lot of trouble playing it at first, because I had no idea what the combat system was like, and the fact that there was no way to change the controls to be inverted, other than in aiming, which was troublesome.
The story itself seems sub par compared to the other games, but considering it wasn't made by the same people as, say, Silent Hill 2, it was actually still creepy and did have SH-esque goodness.
The boss designs were actually the best part, I think. I remember being so creeped out by Scarlet even though I'd seen gifs and such of her and the other bosses months before I'd even thought about picking it up for myself.
I'd say 6/10. It was good, but not great.