it is bad , but certainly not without merit as entertainment . 
(ROOT (S (NP (PRP it)) (VP (VBZ is) (ADJP (ADJP (JJ bad)) (, ,) (CC but) (ADVP (RB certainly)) (RB not) (PP (IN without) (NP (NP (NN merit)) (PP (IN as) (NP (NN entertainment))))))) (. .)))
(ROOT (S (NP (PRP )) (VP (VBZ ) (ADJP (ADJP (JJ )) (, ) (CC ) (ADVP (RB )) (RB ) (PP (IN ) (NP (NP (NN )) (PP (IN ) (NP (NN ))))))) (. )))