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Heh heh heh
Its probably quicker and easier to list what you would consider bad beer as I agree with Cully (well to a degree)
Worst beer would have to be warm Joseph Kutze (ask the Kiwis) thats been sitting in the bottom of the bait esky (and you've run out of everything else because your bludging mate has been drinking your grog instead of his poxy JK). The ouside tasted better than what was in the can.
Also homebrew from the kit - doesn't matter how much people try to convince you its the goods, it still taste like home brew. Too much cane sugar.
The Germans are right, the only thing that should be used in making beer is barley malt, yeast, water and hops.