[J. Tithonus Pednaud]

That has always mystified me as well.

Perhaps it's cult status was more of a pop culture era thing or a bonding between like individuals over a film. It does sort of capture the 80's angst punk rebel thing - not unlike Dazed and Confused captured the generation X laid-backs of the 90's. The soundtrack is pretty much mint 80's punk too, maybe that has something to do with it as well.

Isn't Empire Records also a pseudo-cult film for many of those same reasons? Only way, way less cool. It just resonated with the kids.