The show was terrible. Thats why it didnt last much beyond its 80s origins. I dont know a single person who would name this their top musical let alone top 5. The music is good though.
It was a big deal when it first opened. It was different, it was something of a spectacle at the time. Barbra Streisand made a hit out of "Memory", which certainly helped. It was part of that whole London blockbuster phenomenon that ruled Broadway in the 70s/80s/early 90s (others included
Evita, Les Miz, Miss Saigon, Phantom...).
After the hype died down, it was popular with families, and even more so with tourists. I read somewhere that one of the reasons it was popular with tourists was because you didn't need to know English to enjoy it. It was all dancing and singing. And cats.
I saw it 1990, when I was in high school. The dancing was amazing, the part with pirate ship was really cool, and they let the audience go up on stage during intermission, which was neat too. "Memory" was the first time I saw an 11:00 number live, and I can't remember who played Grizabella that night, but man, she sang the hell out of it.
It was fun enough. Not one of my favorites, but it was entertaining enough. Plus, it was fun when David Letterman's show was only a few blocks away and he kept doing sketches with them. He showed the cops arresting the Rum Tum Tugger from this marquee camera one night.
I'm not sure how it will work as a movie, though. The cast sounds wild, so that has me intrigued.
The Broadway show ran for a long, long time (4th longest run in history) and has had various revivals.
It's only had one revival on Broadway, which ran last year. It closed in December. I didn't see the revival, but I heard it was pretty good.
People knock Andrew Lloyd Webber, but damn...he had 4 shows running on Broadway at the same time last year:
Cats, Phantom, Sunset Blvd, and School of Rock. That's impressive.