The ratio of hit to shit in found footage movies is way too far out of whack for me.

For every [REC] or Cloverfield there seem to be absolutely dozens of low budget, poorly directed, appallingly acted dreck.

The "formula" is one that dates far quicker than other horror movies too. I can enjoy some run of the mill slasher far more than 80 minutes of nausea inducing handy-cam and a super brief, 2-minute, out of focus stinger at the end that really doesn't make the while experience worthwhile.