There's nothing wrong with enjoying schlock as well as quality, as long as you can tell the difference.
Rocky Horror is terrifically bad, and lots of people love that, because it's just plain fun. John Waters actually strives to be bad, and I'm not sure but I think Andy Warhol's films were 'bad on purpose', too. For his sake, I hope so.
Personally, I find everything Ed Wood, Jr. did to be hysterically funny, but most people can't sit through them - the Tim Burton/Johnny Depp biopic notwithstanding, which actually was funny and makes the whole notion of 'so bad it's good' easier to understand. Don't believe a film with wall-to-wall nudity could put you to sleep? Watch 'Orgy of the Dead'.
Look up David Lynch's Eraserhead. Now that is one strange piece of filmmaking, and yet I find it compelling even while it disturbs me. David Cronenberg's Videodrome was not cheaply done, but is one of the most garbled complex ideas I've ever been unable to fully comprehend. I think I get it, but I'm never 100% sure. Less sure if I care, but the special effects are cool.
Tobe Hooper directed a movie called Lifeforce in 1984, based on a very good book 'Mind Parasites' by Colin Wilson, but somewhere along the line both the title and every original word of Wilson's story got thrown out and replaced by...well, a naked vampire from outer space, who destroys the world or something...I'm sure Colin Wilson was extremely embarrassed to have his name associated with it in any way, except by cashing the check, but it's hard to turn it off once you start watching...maybe its the naked vampire, I don't know...
There was a slew of Z-grade horror flicks in the 60s and 70s that are so awful (not scary or gross - just AWFUL), once I start one, I 'm masochistically glued to the screen, just to see if it can get any more boring, or whether the writer can dumb his dialogue down any more without actually forcing characters to say things like "GooGoo, Gaga", "Me go potty" and "Dink! Dink!"...Strangely all these pieces of crap have great titles, like The Corpse Grinders. What movie could live up to a name like that?