joolsd’s review published on Letterboxd:
A complete but at times interesting mess. Incredibly badly paced, apparently due to hasty editing. What's odd is that it anticipates all the meta-self-referential films that started to become trendy about 5 years later. The fatal flaw is that it also can't escape the action parody genre at all. Had this played the film-within-a-film entirely straight (or at least straighter - imagine if this had been wrapped around a different Beverly Hills Cop 3 instead of the unwatchable dreck John Landis came out with?) then it might have at least been a bit more critically successful.
In relation to what it anticipates it's telling that the most effective parts of the film are where the characters are dealing with the fictionality of film and the relationship of audiences to cinema. By comparison, the jokes about Arnie packing 12 guns are yawn-inducing, and the industry in-jokes downright embarrassing. It does make me very curious to know if Andy Kaufman watched this and thought, "I can do better", though.