Maybe the humor was lost in translation? I thought it was hilarious. The movie doesn't want to be a satire, it is a satire. The meta nature of the story practically exists to allow for the playing with tropes of all types of horror films. And the idea that a horror film has to be scary to be good is ridiculous. When you're a horror fan you watch so many horror films you're no longer scared by them so you have to judge them by other criteria, like a smart script, cinematography, atmosphere, acting, directing, score, etc. The concept alone elevates the film above the vast majority of modern horror films. Your reaction is common from so many people experiencing "Hype Backlash". The best way to see a film is cold, not reading too many reviews/hype.
I think you should avoid seeing the most popular horror films? The best ones are usually independent, while the ones that make the most money tend to be found footage crap or PG-13 ghost stories like Ouija.