Monster movies are cool, and, at times, so is the cinema-verite handheld meta film genre, a la The Blair Witch Project, Diary of the Dead or Paranormal Activity. Blending the two provides a unique opportunity for a disaster film that captures the events sporadically, and is very reflective of society's growing obsession with filming seemingly everything then uploading it for all to see.
I like how the film is presented as recovered found footage, and that it includes some intermixed events from previous thigns recorded on the camera. These intercutting provide some background and development, as well as some commentary and irony given how they are edited into the rest of everything.
Much like 3D, the use of handheld shaky cam can be effective at times, but is not appropriate for everything, and runs the risk of being needless or overdone. For this though, I thought it was quite effective. It didn't really bug me like it did for some people. Also, I liked how there was no real explanation for things, and what the auidence is seeing unfolds for them the way it unfolds for the characters. That's a good way to try to get the audience to connect with the characters.
The concept, and production design, and yes, even the camerawork, are great. I do have some gripes though. There could have maybe been a little better character developent, as it was hard to identify with them at times. I liked how this film, like Jaws, follows the rule that it is more effective and scarier the less the auidence sees the monster, or sees it in full. I mostly liked the creature's design, but the weird things around its head looked a little silly. Also, while the creature is a menace, the little parasites that drop from it were far more intense ans scary. The big one should have been a little more like that.
As a 'regular' film, this is a curiousity piece, and mayeb not that great. As an experiment that comments on the current state of things, using contemporary technology and events as reference points, this film really shines. It's not a fun movie per se, but it is enjoyable, and worth at least one watch.