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The 90's camcorder boom made for lots of "so shit, they're shit" efforts - usually about zombies, and featuring fountains of watery red paint and mind-numbingly derived narrative.
At least the "bad" movies from the previous decades were captured on film and driven by a new gap in the market for over-the-top gore and sleaze.
Much of today's indie efforts are merely fanboy tributes to the cult of the video nasty, and mildly significant only for their undying dedication to tired undead/apocalyptic themes and self-referential in-jokes.
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