It's a classic. No question...but I have always been predisposed to liking a good vampire film.
Soundtrack is excellent. Make up effects were brilliant (the same team later worked on Buffy if I recall correctly).
It doesn't pretend to be a work of genius and it isn't, but it's an enjoyable film where just the right amount of the movie is performed with the actors tongues in their respective cheeks!
The 80s-style clothes and mullets only add to its charm!