What concerns me is earlier in this thread you're having to tiptoe around outright condemning the film with a much less forceful, "Well, if you like it you like it" than I think you otherwise would because then you have to defend against absurd accusations about you being old or out of touch. The film's language towards women is incredibly misogynistic and there's no getting around that. Movies do not exist out of a broader cultural context, and it's hard to respect Terrifier for a number of reasons, including the state of the world.
In regards to the comedy, I would bring a counter example of something like in the clown movie Stitches where the antagonist tears a man's dick off and ties it to a balloon and it flies away. While gross and stupid, it doesn't linger, it makes its point and moves on. Freddy slamming someone's head into a TV and yelling, "Welcome to primetime, bitch!" is comedy because of the unrealistic and inherent absurdity of the scenes.
That is really the primary distinction for me. If the Terrifier killing scenes were taken on their own and released by a deranged murderer, they would be mostly indistinct from the thing they are replicating, and that is what makes Terrifier torture porn, regardless of the purported over the top nature of the killing. Also, the suffering doesn't have a particular point. It's just sort of there with no justification for it's existence. I'm not even against torture porn. Even Saw, which is a franchise I have generally enjoyed, at least is trying to make a point about the value of life and vigilante justice. So when someone says, "See, it's a comedy because you laugh at the in-depth graphic exploitative human suffering of which there is a ton of in the world!", it sort of comes off as a flimsy excuse. That's when the excuse of it being a really good SFX reel makes it worse, not better. Horror movies have long had a moral justification (however thin) for their existence, such as don't do X or the Boogeyman will get you, or dealing with the personification of evil. Art the Clown serves as a barest framework for focusing on and glorifying the killing with no specific philosophical reason or motivation, and the movies don't even try to explain it except with awful bolted on made-up-as-we-go retcons to address that specific criticism. That's made even worse by the fact that it's violence committed against women in a gender specific way.
At the end of the day, if someone likes it, that's fine, and I'm likely going to go into the house once regardless, but I'm not going to pretend like the franchise it's based on doesn't have a lot of issues. When I try to be critical about the media I consume, Terrifier doesn't really work for me as it's hard to justify for reasons other than "Haha, black and white clown do funny thing and go stab stab stab." I just don't think anyone should be accused of anything or demeaned for their valid criticism of the franchise.