Nope. A game that's bad when taken on its own merits is unsalvageable as a whole. You can make it more tolerable with its surroundings, but bad gameplay will ruin the work as a whole in the end; plot doesn't have the same effect on a video game.
Then again, I'd probably rank plot as the second least important aspect of a game, barely in front of the quality of the graphics. On the other hand, when summarizing a game with abysmal gameplay but a standout plot, the most likely summary you'll get from an unbiased point of view is that while that plot is noteworthy, the game as a whole is poor, while a game with excellent gameplay but a bad plot, or no plot at all, will likely garner reactions of "the story stinks/isn't there/whatever, but the game is so much fun to play, who cares".
Then again, I'd probably rank plot as the second least important aspect of a game, barely in front of the quality of the graphics. On the other hand, when summarizing a game with abysmal gameplay but a standout plot, the most likely summary you'll get from an unbiased point of view is that while that plot is noteworthy, the game as a whole is poor, while a game with excellent gameplay but a bad plot, or no plot at all, will likely garner reactions of "the story stinks/isn't there/whatever, but the game is so much fun to play, who cares".