I don't think I could ever work up the nerve to play it, and I'm someone who's marathoned Marble Hornets and TribeTwelve and then gone to sleep right after XD;
What I think is awesome though is that though the game's premise is goofy, it has a sort of smartness to it that's hidden beneath the surface. Not only does it apparently feature adaptive AI, but the game actually has a rather intricate backstory that can be discovered if you pay attention (it involves an unsolved murder of five children). Oh, and that tune Freddy plays when he finds you? It's actually from the musical Carmen, and was all about a man who loved his job despite the high risk of dying from it.
Oh, and those shrieks the animatronics make when they get you? They're actually the screams of children, just amplified and cut short.