It's very disappointing when someone gets up to do a talk and starts with an apology about the quality of the slides, or even the work itself. In the audience, we expect to see the presenter's best. A talk is, in many ways, a final outcome of the research work, not an intermediate state, and so it needs to be, simply, the best you can do.
You never tune in to your favorite TV show to see a disclaimer like this scroll across the screen:
Tonight's show is not going to be very funny and includes lots of shots of the outside of the house. That's because the writer was hung over all week and one of the actors turned up an hour late because the car wouldn't start—you know how that is!! We're really sorry and we promise that next week's show will be better.
TV shows, like academic talks, are performances, and final products—rather than working products—of the work that went in to produce them.
"The best you can do" doesn't have to be the best thing ever. There's a range in every community, and that's part of life. If someone gives a mediocre presentation one day and a better one another day, we'd say he or she improved. But we never adjust our estimation of someone's work because of excuses.
When you know you've done suboptimal work, or you're not fully prepared, it's best just to press on and give the best performance you can. Maybe your slides are crap—either skip some, or clarify them in words, or redraw them on a whiteboard, or something. Don't just apologize and expect the audience to swallow something bitter-tasting. It may be important to characterize what you've done modestly, for example, being clear about what problems you have and haven't solved, but that's quite different from an apology. You might give a talk where you say, "We tried to solve these three problems but we haven't really solved any of them." And maybe this failure is even because of desultory work; it still might be worth giving a talk and passing on what you've learned. "Here's why these problems are hard," you could say.
Apologies are important, in general, to signal that you know you've made a mistake. In a relationship of trust, when you've messed up, you need to acknowledge it; otherwise your confidantes may think the bad behavior was typical of you, or that you would do it again in the same situation. Such a relationship might be an intimate one—say you forgot your lover's birthday—or it could be a working relationship—the writer on the sitcom, above, who showed up for work hung over, was trusted by his co-workers to give a strong effort on the show. That he turned in dodgy work, causing the show to come out crap, is a mistake worthy of an apology. The apology allows you to regain trust, and of course many mistakes are forgivable. An apology signals that you learned something from the mistake, and so others can risk trusting you again.
Contrariwise, TV viewers are not in a relationship of trust with the production team. They want a damn good show with no buts about it. Anything else will simply drive them elsewhere—likewise, the audiences of technical and academic talks.