Someone had me watch "Deadgirl" as a terrible netflix movie. It's pretty terrible. And should give just about everyone on EF something to rant about.
Semi-similarly, I watched Lars von Trier's Antichrist after hearing people complain about how horrifically misogynistic it was and I got curious to see how. It was, in fact, both beautifully shot and horrifically misogynistic. In that way, it may very well be the "best bad movie on netflix." Shame he's such a despicable human because the man does know how to make film.
Probably not quite what you're looking for, but, that's all I got right now (=