Actually darker than I'd expected

I went into this expecting full-on sleaze, and while it delivered in that department, I also found there to be a lot of dark themes in this movie that underlie all of the eighties cheesiness and sex humor.

There are themes of sexism and relationship abuse between Alison and Brent's, as well as depression and anxiety (note Alison nervously popping pills when she gets to the cheer camp). The death of Suzy in the film, suicide or not, is also representative of Alison's own inferiority complex, as summarized in the opening dream sequence.

Envy and jealousy come in at the film's conclusion, in which we discover that Cory pinned all the murders on Alison. That final bit where Cory does a cheer in front of the camp in the early dawn is weirdly disturbing no matter how absurd it all is.