Overall effect is that you do nothing. There is no strategy you can use or think about, no time to try trics with ball or even shoot or dribble.
One reason it is not fun is that the less good person don't actually get to be active in play - he will be effectively in much passive position and it wont even be challenge.
If my goal is to get better at basketball, playing against Steph Curry is not useful. Learning happens most efficiently when the challenge is somewhat above your current skill level, but not enormously so.
If someone just recently started going to the gym, would you put a 300 pound barbell in front of them and tell them to lift that, and assume they're a loser if they don't get any enjoyment from failing to lift it?
That's more like the weight lifting you're comparing it to - the competition involves artificially choosing the other person as a benchmark, and I can work against whatever internal benchmark I want.
This is very different than a game of one-on-one, where it's his job to change how I interact with the ball (which he would, to the point of meaninglessness) and vice-versa (which I would fail at to the point of triviality).
It's not strange (or a personal failing) to find that less interesting.