Is it hated and laughed at?
Maybe my perception is coloured because I was there, but my impression was that it was very well-received, for the genre - and that it is not looked down on more than any other representative of the genre or the era.
If anything, a little of the original luster may have been lost not only due to the remakes, but also to Wes Craven going from darling and saviour of the horror genre to someone who very clearly had a painfully limited range of ideas and imagination, which became even more painfully boring each time he tried to shock us with his deadly dull and pedestrian peccadilloes. “Be* scandalized!*” “Seriously, dude, we don’t care. Try scaring us again, please.”
ETA: Also, what thrilled us when we were sixteen gets pretty old as we get… pretty old.