A lot of people are completely whiffing on the lessons to be learned in this movie. Part of that is becuase it's been pumped with tasteless pop culture from the early 2000s and filled with sex that distracts you if you don't pay attention...but, that culture and perversion helps tell the story.
I won't spoil anything, even after 20 years, but the reason you should watch this movie is because it shows just how real and horrendous the disconnect with teens and parents can be. Maybe it's not intentional, but this movie truly does a great job of showing just how important leadership is for teens and how quickly they can fall off the rails if that foundation isn't there. You find yourself wanting to scream at the parents to wake up and in turn notice mistakes you might be making.
Now, this is by no means a 5 star movie like my rating suggests. However, the emotional grab and real life lessons make this a must see...Its intense, but but a must watch for parents.