I heard this phrase
We're all each other has.
in Family Guy and a quick googling shows about a hundred thousand occurrences. It sounds really strange to me. I would say
We are all we have.
Now that I think of it, "We are all we have" technically means "We have us" rather than "We have each other", although I suppose context could render the two meanings equivalent.
In "We're all each other has", however, it is emphasized that "We have each other". Here each other is used as the subject rather than the object (of the subordinate clause), which seems illogical. Is this usage acceptable in standard English? If not, is it uncommon? I mean, does it hit the ear wrong for native speakers? Should I avoid using it even in informal speech?