Last Action Hero has to be the most underrated movies I've ever seen. I've seen it at least four times, but I still like it. Stuff the critics and enjoy it for what it is: a spoof of action movies and their clichés. It's something that probably hasn't been done before and hasn't been done since (because this was undeservedly bashed, I'd say). I would say that it was poorly received because audiences expected a mindless Rambo or Terminator-style film, rather than a satire.