I nominate Last Action Hero with Arnold as the worst big budget movie I ever saw.
Apparently, you took "Last Action Hero" way too seriously.
Once I realized it was a satire, I thought it was funny. Not great, but not bad.
"True Lies" hit the mark(s) that "Last Action Hero" missed, if you can get through the parts where a teen-aged Elisha Dushku was screaming to the point where my ears started bleeding.