This is lost Nintendo media wrapped in gold, with a little bit of dust on it. Glad it's available on YouTube for free.
While some parts of the movie were expected as if from a typical Mario storyline, I must admit the ending gave me a good chuckle - it was totally a twist. However some parts felt like they were dragging on, and the voice acting was a bit annoying... and you can tell it was made in the 80s just by listening to the soundtrack!
If you're a Mario fan, or just wanna watch something ridiculous, I would recommend this - maybe even under the influence for some extra fun. Don't take it seriously or else you're gonna be disappointed. I am not giving it an abysmal rating because 1) I love the Mario franchise and 2) Despite all its flaws, I've seen worse. To me, I was watching for pure nostalgic reasons and I love the corniness of this film.