It harkens back to the '80s, when weird movies were made because people liked weird, silly movies. There was a sense of irony in the 1980s, but it was mostly present in smirking self-referential fourth-wall breaks like Ferris Bueller's Day Off, and there was still a strong story and a great cast to back it up.
It's really only in the 21st century that we decided that movies could be LOL-terrible and that's all they needed. I mean, sure, Sharknado was fun, but there was nothing THERE besides the story of the shark tornado which is never even REMOTELY addressed by a meteorologist or a shark expert. There's just the bar owner and his dreadful wife and a kid I hated, and a bunch of really fantastically bad special effects.
Wolfcop keeps the awesomely bad special effects, but adds a story with genuine pathos and betrayal, a story with heart about a man who finds solace in the form of a werewolf - like Teen Wolf! - and where awesome things happen just to make the story better.
So good.
He never does get naked, though. Tragically.