The thing is (Spoilers)
When I first watched B$M I wasn't sure exactly what to think. After all the hype and shock it wasn't as transgressive as was claimed - the Shrim scene was horrifying, yes, but considering the hype of it all it almost seemed a bit tame. I still liked it and thought parts of it were hysterical, I just felt a bit disappointed. The humor was very different from Awesome Show. It DID feel a bit too conventional for their style. But upon further viewing I realized that that was the point.
Watching it over I realized that's the brilliance of the whole thing. The way Awesome Show is the shell of a public access show sucked out and replaced with T&E, Billion Dollar Movie is the shell of a conventional heartwarming comedy with T&E controlling it. I'm sure everyone got that but the lengths to which the go is astounding.
It feels like a PG Adam Sandler kid flick, but with excessive nihilistic violence, penis piercing, disturbing sound effects and horrible acting in place of the usual sweet sentiments. Eric's relationship with Katie is built up throughout the movie and in an instant she's shot in the head, and within seconds Eric is using her dead body as a shield. You then begin to realize that their relationship is one of the poorest developed relationships you've seen in a movie - not once to they have a conversation or really do ANYTHING.
And that is it. It is the perfect heartwarming kid flick template twisted to Tim & Eric's liking. I think it's BRILLIANT.