George Lucas clearly intended to make a feature-length, big budget version of an 80's Saturday Morning cartoon with Episode 1. It's all there--the racially stereotyped villains, the annoying "comic relief" sidekick, the silly anachronisms, and the humor that no one above the age of five could possibly find funny. The two-headed race announcer clinched this idea for me. Lucas plainly created Jar Jar Binks to be the movie's Orko, not realizing that nobody really liked Orko in the first place. It's pitched at the same level as an episode of Masters of the Universe or Thundercats, with more impressive visuals to boot. I mean there are truly plenty of moments in the Phantom Meance where the set design, creature design, sound effects, editing, music, and color all snap into place, and its legitmately good popcorn cinema.
Moments that are muuuuuch rarer than Episode 2, which doesn't even feel like an actual movie at times in comparison.