Morbius Effect

When something is so bad its very existence is meme-worthy, making the thing "good" in an ironic, meta sense. The thing has very little entertainment value on its own, but because of that the act of ruthlessly mocking it is extremely fun.

Based on the movie Morbius, a boring, cliché, below-average superhero movie which spawned a cult following of ironic worship and appreciation as a form of mockery.