Blair witch project is a dumb movie, but from a studio's point of view it was brilliant.  The movie had practically no budget, and no crew, no lighting.  It was the first movie advertised on the internet, and they did so by making a bunch of fake websites to make people think that it was a true story, even though its completely fake.
Keep in mind, this movie is (or at least was at one point) the most successful movie ever made.  For every 1 dollar they put into the production, it made back 10,000.  and it was shot mostly on 16mm, 8mm, and with a VX1000.
It's both shitty and brilliant if thats possible.