I'm honestly surprised at the audience praise, but I'm not at all knowledgable about the lore. I have fairly low standards for horror, especially around Halloween, and my expectations for this were really low: all I wanted was a guy working as a night shift security guard seeing a lot of spooky stuff. After the early sequence with the throw-away characters, I felt like there really just wasn't any horror. Once there was a threat, it was fairly immediately dispatched.
I don't mean to be a downer for anyone who enjoyed it, I just loved the idea and really wish I had liked it.