Good thread, I'm in a bad but fun band. 3 piece with some friends, we have a great time hanging out, drinking some beers, trying some new tunes. But our leader (guitar, singer) is a bit too loose - we've played a few small gigs, and there is no organization or discipline (not bringing extra guitar strings or guitar, never sticking to playlist, drinking too much). Several times he's played a riff, called out a new tune that the drummer and I have never played before. At a gig. So we stumble through it. As someone observed, it's amazing the audience so rarely notices when we suck.
So our fun but nutcase leader decides we need to learn "Sweet Caroline". Drummer and I recoil, we play mostly alternative and classic rock covers, not Neil Diamond. "Guys, our audience consists mostly of housewives that have drank too much wine, it will kill." Despite having no horns, keys, and sucking our way through the song, he was right.
We're never going to be rich and famous, but if you're having fun and the drunk ladies like it, well then I guess we're doing all right.