This is spot on what a "so bad it's good" game should be.
The gameplay is brilliant. It's just playable enough to be fun while still retaining the craziness and WTF factor. It's a lot of fun to blast away with your tank, and I got the hang of semi-controlling it (while spinning around and blowing up people) pretty quickly. I managed to win the game, though I'm not sure exactly what the winning condition was.
The absurdist humour and weird references might not be for everyone, but I personally found this game hilarious.
If I had one minor complaint it would be that the graphics are a little too nice... but there are those sweet goodbad intro/outro slides, and during gameplay I hardly noticed the playfield graphics so it gets a pass here as well.