Who's this f**kin' clown?
I saw it (ie: fastforwarded through much of it after giving it a valiant attempt). I have a fear of clowns since I was a kid. Love Tim Curry's Pennwise and Killer Klowns from OS.
But this movie?
Your review is pretty spot on (you were actually more generous than I would've been). It tries and fails. It is indeed a sad clown.

I wonder if Killjoy 1&2, S.I.C.K., the Camp Blood trilogy, or Dark Carnival are any better.