I at first considered the joke was "making a cheap movie on a cool idea: power rangers vs tnt. XD!! It's funny because it's cheap!" Now I think the entire thing is supposed to be a parody of an "awesome movie, yeah!!". An awful-looking, based around ridiculous topic, and intentionally crappy, movie.
(Crossover battles can be cool, but the ones most kids and grown-ups I know want to see, are intended to be just flashy. TMNT isn't cool just because the posterboys look sharp (I think).)
A "toon", as the autor calls it, that in a shitty-looking-film manner, makes fun of how empty fan-made cross-overs can be, is quite enjoyable to me.
8/10. Good job, did you also mean to mock how power rangers ripped-off spider-man? That'd have been neat.
There is a spanish cheap-film-producer that you may find cool if you liked this https://www.youtube.com/user/themisterjagger