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1.
Can be used to describe a horrible experience, to a grand level; a figurative festival of craptastic events; something with a bounty of craptastic aspects; or, what one calls something bad when they wish to use mock or sarcastic cheer.

A relative to the slang adjective craptastic, and a tongue-in-cheek antonym of "extravaganza".
"That Disney vacation with the rents was a total crapstravaganza..."

"I have read some badfic in my time, but the DBZ section of FFN is a veritable crapstravaganza!"
by Jaxxy_no_Jutsu July 15, 2008