Haven't seen it (nor will I) but this is a lock for the biggest bomb and worst film of 2012.
Big name stars with overinflated egos?? Check.
Giant budget?? Check.
Dated cultural references to music that sucked just as much 30 years ago as it does now? Check.
Just how something like this gets made is why I can't always look at the Federal Government and say that they know the best way to waste money. Hollywood would give them a run for their (our) money any day...