I didn't like it. Most of it is annoying American teenagers bickering with each other, and who wants to watch that?
Also, it's not really self-contained. I liked it a bit better after I went on the internet and found out more about the background.
Also, the basic premise didn't work for me. It never felt like "found" footage. Plus I'm not really into that style of horror. I want to see what's going on.
That said, it has some good moments (especially the end), and the basic background story is intriguing.