I think the reason why Mortal Kombat 2 Annihilation did so bad was that they crammed why too much into one movie rather then sticking with the flow that was of the games. That, and they killed off Johnny Cage how was actually a pretty decent and funny character, but only after his short-lived ego fell of the face of the earth in the first part of the first film.
A guilty pleasure of mine is Superman IV. Yeah, you heard right. The movie, while being the most terrible of the whole set I found the Nuclear Man concept fascinating. Why this movie ended up being so terrible in the first place was the stupidity of WB at the time. They were in a tight financial bind and they needed the funds to avoid bankruptcy. So what did they do? They took the Superman IV budget of roughly 44 million and slashed it down to 11 million. Next, after the first showing of the film several key scenes were removed including the scenes that features Nuclear Man's prototype construct, who fought superman and then disintegrated. Needless to say Lex Luthor learned from this and applied the 'Nuclear Misslie carrying the genetic stew into the sun' bit. This finalized Nuclear Man 2 which was far more genetically stable, superior, and an all-around badass 80's villain, even if he was simple-minded.