This movie was one of the first made after the MPAA rating system replaced the Hayes code, and people could make porn commercially. Originally, it got an X rating, and they trimmed it down a bit to give it an R.
Basically, it parodies the Flash Gordan serials of the 1930's, with stop-motion animation monsters and cheap space ships. The jokes aren't really funny, the sex isn't very passionate, the acting is awful and the special effects are cheap. Yet, oddly, it is unintentionally funny. The scene at the end with the jive-talking giant monster is probably the best part.
worth watching for a laugh... maybe once.