Mommie Dearest (1981)

How bad is it? It manages to be both quite good and quite bad at the same time.
Should you see it? Everyone should see it once (Mother's Day, perhaps).

Filmed version of Christina Crawford's book about her childhood, this is supposedly all true, which makes it harrowing, but Faye Dunaway's performance is so hysterical (in every sense of the word), it becomes a camp classic. Some quotes:

(The famous one): No wire hangers! EVER!

I'm mad at the dirt.

I'd rather you go bald to school than look like a tramp.

I'm not acting.

Bring me the axe!

(and describing the movie itself):
I have been BEGGING YOU... begging you for a good script. Now you've always given me my share of bad movies because you knew I'd make them work.