unterirdisch
underground
Located below the surface of the earth or taking place there.
Die U-Bahn fährt durch ein unterirdisches Tunnelsystem.
The subway runs through an underground tunnel system.

underground / abysmal
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underground
Located below the surface of the earth or taking place there.
Die U-Bahn fährt durch ein unterirdisches Tunnelsystem.
The subway runs through an underground tunnel system.

The word is made up of 'unter' (under) and 'irdisch' (earthly, from 'Erde' meaning earth). So it literally means 'located under the earth.'
Archäologen haben eine unterirdische Kammer entdeckt.
Archaeologists discovered an underground chamber.
You can easily recognize the meaning from the context. If people are talking about places, buildings, or passageways, the literal meaning is intended. If it is a strong negative evaluation of quality or performance, the colloquial meaning is intended.
Viele Städte haben große unterirdische Wasserreservoirs.
Many cities have large underground water reservoirs.
In the meaning 'extremely bad,' 'unterirdisch' (abysmal) is a very strong colloquial word. It expresses great disappointment or annoyance and is mostly used in informal conversations.
Seine Entschuldigung war absolut unterirdisch und hat alles nur schlimmer gemacht.
His apology was absolutely abysmal and only made everything worse.
As a negative evaluation, 'unterirdisch' (abysmal) is often used for abstract things. Typical phrases are 'unterirdische Qualität' (abysmal quality), 'eine unterirdische Leistung' (an abysmal performance), or 'ein unterirdischer Film' (an abysmal film).
Die Bildqualität der alten Kamera ist aus heutiger Sicht unterirdisch.
The image quality of the old camera is abysmal by today's standards.
bad
'schlecht' and 'unterirdisch' can both describe very low quality. 'schlecht' is more neutral and can also simply mean that something is not good enough. 'unterirdisch' is colloquial and much stronger: it means not just bad, but extremely bad. You often use 'unterirdisch' for performances, service, results, or quality when you are clearly annoyed. For a factual description, 'schlecht' fits better; for strong criticism, 'unterirdisch' sounds more natural.

Wegen der vielen Fehler war die Präsentation wirklich unterirdisch.
Because of the many mistakes, the presentation was truly abysmal.
Das Essen im Restaurant war heute leider schlecht.
Unfortunately, the food at the restaurant was bad today.