At the time of its release during the summer of 1995 with a budget listed at $175 million Waterworld was the most expensive movie ever made. An infamous troubled production, it seemed like critics and audiences all wanted this movie to fail. It was labeled ‘Fishtar’ and ‘Kevin’s Gate’ after the notorious box office bombs Ishtar (1987) and Heaven’s Gate (1980). Despite the negative hype surrounding it, Waterworld did open up #1 at the box office even though it did not recoup its budget. Jason and Rich go back into the high seas to determine once and for all if Waterworld was unfairly judged by all of the toxic press it received or if the critics were right and it is indeed a Reel Big Mistake.