Sure, TPM was lame when compared to the original Star Wars trilogy, but it was never meant to please the audience of the original films. Its primary target was the little kids... progeny of the original audience.
That point is addressed in one of the later clips. If this movie is made for little kids, then why make it so complicated in regards to trade disputes, political arguments in the galactic senate and the machinations of someone trying to take power.
Their idea of an offer you can't refuse is an offer... and you'd better not refuse.