The Magnificent 7 was based on the 7 samurai.
In the kingdom of the blind, you're the village idiot.

Ummmm more like Star Wars meet The Wizard of Oz while recruiting the Magnificent Seven.. but instead of Mark Hamill and Harrison Fordwe have John-Boy Walton and George Peppard . geeeesh. The dialogue was cheesy even for a Corman flick and the acting worse. They tried to add humor but it wasn't needed. the whole movie left me stuttering OMG OMG OMG

I remember finding this movie very much like a comedy Very much like a farce, especially with George Peppard, who had not had his career resurgence at this point, and was known to be a very serious actor. Peppard as Space Cowboy really hammed up every scene he was in. Vaughn's performance might be the thing to keep this from being a true comedy. Although his performance is a complete in-joke, he still is far removed from his days as Napoleon Solo, and it seemed he had been playing villains so long that he had forgotten how to play a good guy Even if that good guy was a bit shady.
Oh, an interesting bit of trivia is that George Peppard and Robert Vaughn (Who was only in season five) were main characters on "The A-Team", while John Saxon (twice), and Morgan Woodward (three times, including a two parter) made guest appearances on the show.
Dr. Cynic Has Spoken

Absolutely. In fact they made so many 'proper' sequels to the Magnificent 7, I heard that execs in Hollywood dubbed this movie- The Magnificent 7 Fly!
Still this movie never tries to be something it is not, and hams hitself to the hilt. I think that is why it is so well liked.
It could easily have been a comedy with a couple of tweaks here and there.

There's nothing loose about it. Hell, the Gelt character is played by the same actor that did it in the Magnificent Seven, and even has some of the same lines!
Of course, the Magnificent Seven was itself heavily based on a Japanese movie called "Seven Samurai".