Terrifier 3 was more of what we've come to expect from the franchise lol. It's vile nonsense, but these movies do succeed in delivering what the audience wants. The violence once again is absolutely disgustingly graphic - I actually do think one scene near the end is as bad as the infamous "bedroom scene" in the second one and it resulted in four people walking out - and the portrayal of Art the Clown is once again as hilarious as it is depraved. The added "sword and sorcery"-inspired lore actually gives the franchise some kind of geeky touch which shouldn't work, but somehow makes it stand out from your average slasher franchise.
I feel the Terrifier franchise is somewhat comparable to what the Friday the 13th franchise was in the 80's - even though the Terrifier movies are better films than the Friday the 13th ones, save for maybe the first one and the fourth. I do think that they'd do best to wrap it up with a fourth movie.