Just saw it, and Bob is absolutely right on this one. The film was absolutely terrible in almost every regard. I had a different reaction than Bob did, though: While he got mad, I laughed. I have a copy of Batman and Robin sitting on my shelf that I get out sometimes just to laugh hysterically at, and I may buy this DVD to put right next to it. There are two kinds of bad- bad that pisses you off and makes the movie unwatchable (Sucker Punch), and bad that is so bad that it becomes funny. Green Lantern falls squarely in the second category. My friends and I had a grand old time completely making fun of it, sometimes during, but mostly after, the movie. I saw it for only $5, too, so I didn't feel all that ripped off.
I don't think it was bad as Steel or Batman and Robin, truthfully, but boy, is it bad. Yeesh.