There are a lot of stories which can be enjoyed precisely because you refuse to suspend disbelief. They don't even have to be fantasies, or contain fantastical elements.

For example, reading a Dan Brown novel like the Da Vinci code, I don't even try to suspend disbelief. I'm completely clued into the fact that all this is a load of hooey. And that is the only reason I can enjoy the book as popcorn. The moment I'm expected to buy into the ridiculous premise of the book in any way, I'll toss it into the waste paper basket and move on to another book.

I'd also argue that any surrealist fiction, far from requiring or encouraging suspension of disbelief, continuously attempts to create a disconnect between the reader and the created world.