There is good and bad in all animation. I prefer Disney shorts and Warner Bros. shorts to any of the others that are out there. I think that that The Pink Panther cartoons, funny as they are, are all horrbly drawn, but I still like them and collect them.
I am not a big Japanese Anime fan, I find that for the most part their animation is just a step above the Saturday morning stick cartoons that most kids think is art. I don't find shows like The Simpsons, American Dad, King of the Hill, or Family Guy to be great animation, but I like them.
I think that trying to compare good animation to bad animation is like beating your head against the wall for an hour and expecting not to get a head ache. There are all types of animation - 2-D, CGI, Stop Motion, Claymation, the new animation used in Monster House and The Polar Express. Trying to say what is bad or what is good is all in the eyes of the beholder.
I like the Shrek films, though you can't compare them to a hand-drawn animated feature like Snow White or Fantasia, Shrek is still good. Of the current films in the theaters today, Over the Hedge, Cars, and Monster House are three different types of animation and they all are good in my eyes.
I don't pretend to be an expert, or an art critic, but as I said before, you can find good and bad in all animation.