Basically the story is that Grindhouse was going to start off this whole big revival of tongue-in-cheek exploitation film and all those commercials that everybody loved were going to become real movies. Then Grindhouse ate shit at the box office and Machete was only able to get made after much hassle.
Before anybody knew that Grindhouse was going to become a fantastic failure, Robert Rodriguez organized a competition wherein he solicited people to make their own Grindhouse trailers and submit them for approval and the eventual Machete treatment. Hobo With a Shotgun won. And it was a funny trailer! Kind of surprising it's a real movie now. I expect it to be just as slack as Machete or any other film based on a 2-minute trailer can be.