I think you're both right and wrong here. This movie is obviously inspired/influenced by TCM, along with many other horror movies, of course -- TCM with a carney-trash aesthetic is a pretty accurate description.

However, I think that H1000C is a completely different viewing experience. I also think it's a movie that nobody had made yet, because all the previous horror that has existed before 2003 was cultural knowledge that's prerequisite to this movie. This movie is funny, bizarre, referential, and cartoonishly ridiculous in a way that TCM isn't. It feels more like a haunted house ride, Svengoolie, or Six Flags' Fright Fest rather than a mortally serious nightmare.