I wanna emphasize the part about the actors having fun. That in some sense is a tricky thing since actors profession and main task is to conceal what they are and take on whatever role—or at the very least, to sublimate their personal qualities into their subject. Having said that, I feel like even a famous and highly-skilled actor is not going to be able to perform at their best if they are really just in contract-fullfillment mode for a money-grubbing production...
It would seem that no matter how well they were technically perceived, it would slip through somehow and thus violate my condition that the actors are mostly having fun and voluntarily performing, particularly if its with a group of their actor friends that appear in each others' films. I don't worry about the money-grubbing so much cuz chances are the actors are in on it and to some degree inclined to do well and make it enjoyable for themselves and their audience.