It hasn't aged well. For example, police violence against african americans is hella more dire now than it was after Rodney King - a modern version would never have John Travolta acting violently with a gun because as we all know, simply holding a cell phone is enough to get black people killed. For another, the white trash in it mostly listen to Limp Bizkit because rap hadn't been completely appropriated into Hickhop and Witch House yet.

I think a white person could watch that movie in 1995 and go "I never thought of it that way." I think a white person watching it in 2022 would go "I know chapter and verse it's so much worse than this." Which, in its own way, is a success... but considering the idea was to actually make things better rather than recognizing that things are so much worse that we can't even have this discussion anymore, it's not the sort of success we need.

If you judge it in the context of "came out 18 months after Emilio Estevez learns not to go to Compton"

...it's still a movie that should have been better.