Sorry, no. It's schlock, but Fifty Shades of Grey was of a far, far lower order of shlock. Madison County may a glorified romance novel, but Fifty Shades didn't even come up to that level.
Also disagree that it was designed to "tap into the basest desires of unhappy housewives." Francesca wants to be loved. What's "base" about that? It's a universal human desire.