First we have the label that likely encompasses the most movies, that is to say "bad". A movie can be bad for any number of reasons, the script, the director, the actors, the production value, etc. It could be one of these factors, but it is likely more than one. The thing with bad movies is that they generally get worse with repeated viewings. You might of not enjoy "Your Highness" the first time, but by viewing number ten you will hate it with a burning passion. Why they get worse does change from movie to movie, and some people claim movies can be "so bad they are good", but this seems unlikely.
|It gets a little worse with each viewing.|
Good movies is another fairly large category. Good movies don't get worse as you see them, but they don't get much better either. Movies of all types fall here, most properly handled genre pictures will be "good". Good movies are a varied lot, some you will watch, like, and forget about all in the same day; while others might stay with you a long time. These movies are competently made with out reaching a truly higher level. Certainly you would watch a "good" movie again, but you wouldn't get much more out of it.
|Wroth a watching every so often.|
This is likely the smallest category for everyone, the great movies. These are movies that get better with time and more viewings. This movies go beyond "good", they are movies that some might call "flawless". Most people will only have a extremely small handful of movies that they consider great. One that might come up more often than others is "The Godfather". For myself, it has gotten a little bit better each time I have seen.
|Well I think it is "great". Maybe the sequel too.|
This is all a matter of personal opinion. What is "great" to one person might just be "good" to another. As with all art, there is a huge amount of subjectivity. Still, yet to find anyone to call "Battlefield Earth" anything other than "bad".