I blame you blair witch people. You couldn't even manage your own sequel and now every year a dozen films come out trying to be the "next blair witch." Why not? The blair witch was not only an artistic success but more lucrative than selling condoms at an orgy. The key was that the blair witch had production values that would have embarrassed a second grade pageant and yet scored about a hundred million in the box office. Generally, the blair clones have not done near as well, "Paranormal Activity" being the exception, but hope is always in the heart of the film maker.
"Monster Movie," is at least a little more light hearted than most. The story of a group fishing when they encounter a monster and then run away, and run away, and run away. There are about two stabs of originality here: first in the set up where they go into butt numbing detail about how one works in the film department so that's why they have different film stock and he has a twin brother manning the camera, and so on. The creature itself is sort of original in that it isn't a guy in a hockey mask, but rather a good ol' fashion rubber dinosaur.
I wouldn't sit through this again, but at least it was rather painless. As Ford Perfect would say, "mostly harmless."