I couldn't watch it out of fear... that my brain would rot from the idiocy.
I saw some bits here and there, but I couldn't watch it for more than a couple minutes. The whole concept, while original, wasn't very entertaining (shaky cam + lots of screaming = annoying).
And I hated how people were like "Oh, you gotta look closely at this! You can see the witch!" and shit like that. No, you fucking can't. Get over it.
It really was overhyped, and too many weak-minded imbeciles played up to it, using their own "imagination" to make it seem like the greatest movie ever. And Blair Witch 2 was just pathetic.