Talk about a missed opportunity, "But I'm a Cheerleader" is one of the biggest of the last few years. The send-up is perfect; a high-school cheerleader is obviously a lesbian. It's obvious to everyone around her (family, boyfriend, fellow classmates), but not to her; she's clueless. How can she be a lesbian? She is, as the title states, a cheerleader, and they're not lesbians. Family and friends conduct an intervention and send the hapless young lady to a coed gay-deprogramming camp. So far so good, the stage is set for some hard-punching satire. Unfortunately the director and screenwriters are not up to it. Instead they opt for "Police Academy" level potty humor, tired offensive stereotypes, terrible scripting, lousy directing..you name it, and it stinks. The film self-destructs after the first 20 minutes, and becomes an insulting waste of time. Too bad.