Episode 1 and 2 weren't that bad!
It's like the final fantasy movie, If you sit back and watch them from a neutral standpoint they're damned good movies. People build up these monumental expectations that even they admit that it can't possibly live up to, and then bash the hell out of it because it isn't perfect.
There are a lot of terrible movies out there, for every genre. If you set Episode 1 and Episode 2 next to all of the sci-fi movies of the last 3 1/2 years, it will stand with the highest quality. It has a functional storyline, clear beggining and end, isn't riddled with plotholes, has awesome special effects, and cool battle scenes.
People expected a glorious movie, and they got a good movie. That is bad, but mild bad. There is no reason to go around speaking of it in hushed whispers and adding as many derogatory adjectives as you can fit before the title.
JarJar Binks, for another thing, (while I'm in rant mode) is not so terrible. Yes, he has an annoying voice, and serves as the requisite comic relief, but he deserves maybe a 10th of the animosity people direct at him. If that.
Yes, Young Anakin talks, looks, and acts like a ten year old boy, (and has cheesy lines) but that's done on purpose, sorry to disapoint those whom expected him to be some lanky withdrawn badass.
Yes, the movie whores out it's special effects. That's not a bad thing. I can allow movies to be arrogant and flaunty with special effects when they reek of quality and production values. It's a good thing.
And yes, the plot is predictable, though that might have something to do with the fact that this is a prequel, and almost all of the major twists are known to fans. It's kind of hard to throw curveballs when you have to stick to the preset information lest the fanboys start a riot.