'Ok, let's make the most formulaic sports flick....'
...and the sport will be Jousting.
Brilliant. The entire movie is a ridiculous send up of every trope the late 90s/early 00s jammed into their teen-friendly fare. Opening with We Will Rock you establishes, from the get go, this is ludicrous. Once you embrace that and go with it, you find a well made, well conceived satire. It then jumps DIRECTLY into the inspirational scrappy training montage, deus ex machina after deus ex machina, its perfect. It's The Karate Kid, it's Remember the Titans, it's Hoosiers, it's Ali, it's every movie like it, but with just one change; the sport.
Is it realistic? good god no. And I am a stickler for accuracy in historical pieces (Kubrick is the only one who can satisfy some times).
If you hate it, I'm not going to change your mind. But it's not really so much a guilty pleasure as so bad it's good.