Something that is spectacularly jankey.
An party, event, or extravaganza while fun for some is rather low brow, and rather ghetto.
Wow dude your $400 Ford Pinto is Janktakular.
Drugged out raver- "Hey you want to head to that party out in the desert with the generator "PLURYLIFE #5" I hear some random person nobodies ever heard of is playing"
Someone with something better to do- "Dude why would I want to go to that JANKTAKULAR on a Friday night, let's head to Hollywood"