It tastes pretty bad if we drink it at a reasonable temperature (Excessively cold and excessively hot beverages, and food in general, tend to deaden the taste receptors).

In a related story: The Dictionary of Misinformation, a small volume dedicated to the debunking of popularly held beliefs, although generally lacking in humor, has the following entry regarding the beer drinking habits of the English:

Many people believe that the English drink their beer warm. The English do not drink their beer warm. They drink it at room temperature, which no one who has spent any time in England is likely to confuse with warm.