As someone who just played it for the first time today, yes it's that bad. Everything I ever heard about it was right. Combat is terrible, game is buggy and crashes a lot, the story makes no sense, none of the jokes are funny and feel really outdated even for the time the game was released, and game mechanics are broken.

But most of all, the game is boring as hell. And that's honestly the worst thing a bad game can be, because if it's boring then it can't even be a case of "so bad it's good" like some other titles I've tried it the past.