I'm very late, but I just saw this movie last night.
I actually liked this movie, not so much for the fear or tension, because that wasn't very strong, but for the entertainment. Throughout the movie, nobody really knew what was happening and what was going on, but they were all going along with a story being told by an elderly Asian woman. I just found the way it worked out to be funny, reminiscent of old-style comedies (The Importance of Being Ernest, for example).
The plot itself is so absolutely surreal, with the ancient legends and everybody believing everything, that it's completely unreal. It's so unreal that it escapes from reality, so that you just stop thinking "wtf?". At least, that's how I felt.
I also always enjoy movies with meta-characters, ones who say "if this was a movie....". I don't know why, it's a pretty lame gag, but I find it funny.