I'd agree, with this, see also: Van Helsing.
I've argued with a friend over this and he says that these films, while shit, are genius compared to various incompetent, ultra-low budget Horror/SF he has seen; however, I'd counter argue that those films are generally made by people who are amateur or at least with very little professional experience. When you have almost no money, most people not being paid and very little when they are plus a director with no experience who can't direct, actors who can't act, a writer who can't write and tech staff who can't tech, it can't be compared to a studio film with a budget of tens of millions. Ergo: the shittest studio films are ultimately worse failures than the shittest films made by nobodies.