Since the SyFy channel purchased whatever special effects machine it is they use to crank out film after film, there has certainly been no shortage on bad shark movies: VENICE SHARK ATTACK, TWO-HEADED SHARK ATTACK, SAND SHARK, MEGASHARK, MAGASHARK VS GIANT OCTOPUS, etc, etc... The CGI used to generate these beasts is usually cartoonish at best, but not so much so here, I think the Aussies have something magical, fun and scary in equal parts with BAIT.
While this isn't the first movie that floods the coastal cities with a tsunami, and than lets loose nature's greatest killing machines on hapless survivors, the shark(s) in BAIT provide a great combination of thrills and anxiety with their presence.
I personally found the story to be entertaining, and the characters to be believable. The idea of being trapped in a flooded shopping mall with a great white shark was entertaining enough, but the shark itself was truly impressive. It provided some genuine scares, and the scenes leading up to an attack were tense and frightening in equal measure. There was no shortage on gore either - the blood red water being churned as the shark would rend its victims was well done. The close ups - particularly when he would breach were well done, and if I am not mistaken, for at least one of the sharks, I certainly felt a slight homage towards the greatest of all shark films - JAWS (well - JAWS II at any rate)!!!
This movie moves at a good pace, and leaps right in with both feet (forgive the pun), and will not disappoint. If you like shark movies, than this one is for you. Be sure to watch the credits too, as a great rendition of the Mac the Knife is played, and we are rewarded with one last scare.