I watched it for the first time on VHS when I was a teenager, which is probably the best time to watch it. Up until I was about 20, I basically thought it was the funniest movie I had ever seen. As I've gotten older, I'd say I like it a good bit less. I'll still watch it, but it is pretty problematic in the way it treats women and minorities. The "primitive cultures" scene is particularly cringeworthy. Call me a snowflake, I don't care.
That said, there are some hilarious moments in that movie that hold up. Some of the best parts are the subtle throwaway lines. Belushi is at his best, though he's not everyone's cup of tea. The music is fantastic. In its own way, it captures a specific period in history which is interesting to visit. Ultimately, I won't fault someone for thinking it's the funniest movie ever, but I won't fault someone who just doesn't like it either.