The definitive way of experiencing the first (post-reboot) Corpse Party game, for sure. If you're looking to get into the series, you can and should start here. Definitely not a series for everyone, but one I've personally grown quite fond of.
If you aren't a fan of Corpse Party or don't care about the characters, there's really nothing for you here. For someone like me, who played through every other Corpse Party game, including '98 and Zero, this was a real treat. A great palette cleanser after the disappointment that was Blood Drive.
Is it Oscar-worthy? Not even close. But it's genuinely such a fun time playing through this with a good friend. It's like a co-op Heavy Rain, in the best way possible.