One of my fave movies of all time is considered bad by most, but I actually think it's good. "Hudson Hawk." I think the dialogue moved faster than people could chase ... kinda like "Arrested Development." Now that I think about it, a LOT like "Arrested Development."

"Yellowbeard" is another one of these.

But in terms of truly bad, bad, awful movies, that I enjoy in spite of (or perhaps because of) it's badness is "Les Patterson Saves The World." Any movie that casts Joan Rivers as President is not aiming for Oscar.