From what I have read, David O. Russell had been trying to make this film in 2008 between Huckabees and The Fighter, but everything broke down and was abandoned without finishing shooting. However, some time in the recent past, whoever ended up with the footage decided to take the pieces of what was filmed and stitch together a "movie." On paper it sounds like it would draw an audience, it has some major stars and is from an acclaimed director, but sits at a 7% on RT.
This came to my attention because of an AV Club article where someone took a completely out of context fragment and used it to make it look like the reviewer had called it a "comedic masterstroke" when in context the opposite was being said.
http://www.avclub.com/article/no-i-didnt-call-your-shitty-movie-comedic-masterst-221227
This looks like an attempt at ham-fisted political commentary and it sounds like it would be a good one to do only if they were able to get someone involved in the trainwreck