Kinda self-explanatory just post postmodernist shit (wordplay lel) to fish for laughs or because you actually think it's a good idea for real don't lie if you do I won't judge.
So imagine being a rich smarmy fuck and having some money to burn because you're just an ass or don't want to give money to corrupt charities which is pretty sensible I guess. You get an ass-load of money and start making a movie called "Bad Movie" because you're a postmodernist loser (actually more like you enjoy screwing with postmodernists) and also cynical and nihilistic with a wicked sense of humor.
It's not even a parody. It's actually just a bad movie. Not even in the funny way like "The Room" that would make it a cult classic it's just awful and cringey like just the perfect amount of bad that would make people lose the will to live. Probably make it a romantic comedy and actually do research on like Adam Sandler and Kevin James movies and do like experiments with common people to try to see what's the least pleasing things and how to combine them into a film that sucks the joy out of everything. The actors have nothing even vaguely funny. Not in an awkward way, not even if you're desperate for humor and already enjoy Sandler films, not in a so bad it's good, just utterly devoid of entertainment.
The trailers give away the entire plot and all the "best" jokes. It's not even a special misleading trailer the only thing off about it is the name is "bad movie". Everyone gets super hyped especially the postmodernist and ironic crowds.
When it comes out it's just bad. Everyone's laughing because they expect it to be funny in an ironic way and having that expectation they go in and the theater is full of forced laughter. As usual there's nothing special about this movie and no one would see it if it had some name related to the plot. The title of "bad movie" gets people to watch it in droves.
The reviewers will either shit on it and be upset that it wasn't ironic enough or praise it for being so ingeniously ironic. Either way the reviewers go fans will go nuts. Literally instant cult classic and your rich-ass will have made a good investment. You now think of your next plan to scam irony-lovers from their money.