Not good, but certainly better than Episode I
As a child, I used to love Krull. Of course, back then, I didn't realize Krull was not a good movie, but, hey, I liked what I saw and I didn't really care if the script was bad and the acting was even worse.
However, I do feel that Krull is better than Episode I, aka The Phantom Menace. In fact, even Mac & Me is better than the Phantom Menace.
My 2 cents