First off, yes, you're right, this is a godawful movie.
Being a big Fassbinder fan, I rented this with excitement. Fassbinder stars, and he's always fun to watch. It's one of those punk-future-dystopian movies that popped out a bit in the early '80s, always good for some cult fun. It came out at the end of Fassbinder's career, and Fassbinder's whole 12 year filmmaking period only got better and better until his end.
So half way through I thought "what the hell happened? This movie is an atrocity exhibition."
Then I glanced at the cover, and in horror noticed this movie was NOT directed by Fassbinder. He just starred in it in a coked up narcisstic haze. I read he actually wore that leopard outfit he was giving in this movie on and off again in the last few weeks of his life.
Fassbinder was proud of this movie, somehow, and that gives it an odd charm. It's horrendous, but I haven't regretted watching it. There's a scene where Fassbinder climbs to a roof of a building, odd buzzing music is playing and the wind is blowing his hair and he has this perverse smile on his face as he gazes out across the city. There's also the ending where Fassbinder, bloated, in a robe, girates his body against a photo of an astronaut (I'm guessing this is Fassbinder's input, as the exact same ending pretty much is used in Stationmaster's Wife). These two scenes made it worthwhile. Otherwise, mark it off as an awful "Alphaville" rippoff.