Here's my problem with this movie: Since this is horror-comedy and done very cheaply, I keep wondering which parts were supposed to be funny and which parts were unintentionally funny. I sort of feel this is perhaps more a parody on how cheap knock-off movies come to be than those cheap knock-off movies themselves. Obviously this isn't something I should concern myself, but I do.
But hey, even though its like jazz and the "artists" are clearly enjoying themselves much more than anyone in the audience, there are good parts. Some of the jokes do actually work. Not many, but some. We know from all those Plinkett reviews and Half in the Bag that the movie makers have some unique insights on films, so perhaps if I had being more familiar with all the movies they were thinking about when making Feeding Frenzy, I would have enjoyed it more.
The real actors in the movie are pretty good, especially considering how cheaply this was probably made and the material they had to work with.
All in all, the best I can give is a very mild recommendation, but tread carefully, this is probably the kind of movie some people will enjoy immensely, perhaps in some sort of twisted "ironic" way, others will see it as a complete waste of time.