That's exactly what he was shooting for. If you're not a fan of B-grade, exploitative, 70s style horror, then you're not going to like it. I am, on the other hand, and went to see it last night. Spent half the time digging the murder/chase scenes, the other half counting the references to seventies movies. For instance Ken Foree, the main dude from Dawn Of The Dead, played a pimp named Charlie, whose function in the movie's plot is exactly the same as Lando Calrissian's in Star Wars, which itself was referenced earlier in the film by one of Charlie's ho's saying she might try dressing up like Princess Leia to drum up more custom. Michael Berryman from The Hills Have Eyes has a small part, there's an axe-in-the-chest gag taken from The Shining, chase scenes straight out of The Texas Chainsaw Massacre (as well as a rather neat 'face mask'/Leatherface gag)... plus a neat subversion of the 70s horror cliche that there's always one last girl to be chased by the psycho at the end - except in this case, the 'last girl' is the remaining mobile member of the killer family, and the 'psycho' is the cop (now gone mad) who's chasing her...
It's not perfect, of course - some of the dialogue is terrible ('Fuck you!' 'Fuck YOU!' seems to be the main conversational theme in the movie), the acting is pretty sub-par, and the climax is drawn out for a bit too long in order to match the timing of the song playing behind it, but I still thought it was a worthwhile flick.