I was raised to believe that it was demonic( note my parents were misinformed, so it's not their fault), but as i got older, I realised it was just a role playing game like most, it just required more imagination and dice rolling.
Like most things, something can go awry and be bad, but really that depends on the people you are playing with. I would avoid people who try to play the game while invoking spirits cause that's just a gateway to a lot of crap you don't wanna be a part of.
HOWEVER, I decided to play it a couple of weeks ago with a friend of mine who assured me that we were playing with just Christians. It was a lot of fun! I can't wait to play again. It wasn't demonic or anything.