A Nightmare on Elm Street trips over a lot of rough acting and disproportional responses by characters. Also there is no way all *that part* happened in the span of 10 minutes.
Some effects do not work at all, like stepping into bowls of oatmeal or the terrible door-pull, but they are sparse. The worst offenders take place anytime anyone is running anywhere. I don’t think Wes Craven knew what running is supposed to look like or how silly it looked having supernatural Freddy sorta-trip over a trash can that wasn’t really in the way. The boobytrap stuff also feels silly and wrecks the tone a bit. That all being said, Freddy is a presence to be afraid of and genre defining moments shine even by modern expectations.
It is easy to see how A Nightmare on Elm Street is significant to film as a whole.