Good start, but then it gets ruined

It isn't all that great, actually. Really cheesy and very predicable of how certain scenes are gonna turn play out. However, I guess that's the charm of it all, because I would consider this one of my guilty pleasures.

This is one of the few movies I've ever seen where the whole audience broke into spontaneous, loud applause a third of the way in.

It’s fine. It's literally the definition of a fine movie. You’ve seen it before, you know every beat and outcome before the characters even do. Only question is how much escapism you’re looking for.