Honestly, yes, even saying "loosely based on" is an insult to the author. That being said, if you can put aside the inspiration and take it for what it is, the show is quite good. Like Fallout 4 isn't what fallout is supposed to be at...
This movie was so cringe it gave my entire family second-hand embarrassment. Made by boomers, for boomers, if you're one, you probably gonna love it, if not, it's borderline unwatchable.