Actually It can be lots of fun to watch a really crap film with friends. Its quite common to find bargain basement DVD's for about £1 in pound land containing 1 or more really bad films. Normally made for TV movies. On their own they are soul destroying to watch With some friends and a few beers they are awesomely bad experience.
Me and my friends do this every now and again. Its sort of like a real version of MST3K.
Amongst our classics were:
Terminator Woman!
Alien Intruder!
You get the picture. Try it some time. To be really effective it must be both low budget and terrible. Preferably staring nobody you have ever heard of or a past it old hasbeen you kinda feel sorry for.