from Internet Archive:
1000 Misspent Hours says, "All things considered, The Terror turned out much better than it had any right to, which is to say that it’s not totally unwatchable." So not bad enough to be good? Ouch. Moria has a bit more of a positive review, saying that "For such a hurried whim with so many cooks in the broth, The Terror is a surprisingly good film" but adds that "The plot eventually does become increasingly improbable".