I think this is a perfect example of a movie that has aged very poorly. I'm sure if you were it's target audience around the time it was released you might have enjoyed it a lot more, but as for me this just came off as a really goofy movie with some really cheesy acting loaded with what would have been contemporary music and effects for a late 80's movie. The end result just feels like one of the worst examples of a 80's era butchering of a classic genre. I mean they managed to make some good westerns back then, don't get me wrong, but this isn't one of them. I think the whole "brat pack" 80's celebrity connection must have a lot to do with why it's got a cult fanbase.
Review of Young Guns
