A lot of the most compelling art happens when people fully commit. But if you fully commit to something which is a little off, a brilliant performance can become something that feels "bad" but you still can't look away.
If an actor gives a committed performance while filming, they could have the sense that it is either amazingly good or amazingly bad. And either premonition could be right or could be wrong.
(Not to get into what makes something "bad" anyway which is a whole 'nother subject...)
There are a lot of things that a production can't recover from, no matter which other elements are excellent:
* Bad director
* Bad cast
* Bad writing
Get those 3 things right, and you can recover from bad special effects, bad costumes, bad make-up... even lousy cinematography or low budgets.
Example: https://www.youtube.com/watch?v=9mOIxyRTY5I