There you go again, saying that it is okay to like a bad movie. I've analyzed and dissected the The Phantom Menance and I feel that it is a work of art. If someone feels that Dumb and Dumber is better than Schiedler's List than that's their opinion. And you say that good film is a work of art, then you should know that art is subjective and what works for one person will not work for another.
yes, it's ok to like a bad movie in the same way it's ok to like bad food. Taste is subjective. You might think chicken McNuggets are the best food ever, but those who critique food for a living will point out the flaws. Go ahead and argue that your Happy Meal is worthy of anything being served at Joel Robuchon on account of "taste being subjective", but anyone who understands culinary arts will say you're wrong. It's ok, though. If chicken McNuggets are your thing, that's totally ok. And even an ardent foodie might have a craving for them once in a while.
I enjoy plenty of bad movies. I recognize why they are bad though. In the same way I recognize the bacon egg cheese biscuit I ate for breakfast isn't good food.
Neither phantom menace or "batman v superman" are great movies. It's ok to like them, though. I think if people accepted that, there would be a lot less fanboy arguments. Sometimes the worse the movie, the more people will enjoy it. If "Sharknado" is your "Godfather"... So be it. My ex girlfriend's favorite movie of all time was "Tank Girl". It is literally on some of the "worst movies ever" lists. I didn't judge her for it.