Quality-wise I'll admit it blows (Except for the excellent stop-motion of the 1st 5), nonetheless they all entertain me somehow... I think it's the awesomeness of the puppets themselves and the potential they hold for doing cool shit o.O
Combine a good horror-crew with the spirit of the Full Moon guys (Including the old-school stop motion) and I think they could make a badass Puppet Master film; I think the original could have been a classic with a more developed script and direction