I tend to describe Hackers as depicting what coding feels like on the inside.
All those great visuals, the pumping music, it captures the emotion of getting your teeth into a really gnarly problem, and the exuberance of eventually coming up with a solution. People watching over the shoulder of a developer at work are just going to see a bunch of scrolling text and tedious iterations of red, red, red, green, reload, alt-tab, change a thing, wait, red, red, red, green, and so on. But that workflow - if you dig the work - is enthralling. And when you solve the problem, it's worth throwing your hands up with glee, and (internally) belting out a cheesy action hero oneliner.
Not to mention when you are real-time dealing with attackers trying to compromise your systems, the chaos and exasperation and desperate attempts to block them very much match the climactic scene of The Plague and his hapless techno weenies typing "cookie".
I'm probably biased because of my age and the time in my career when I first watched the movie (around the same time as my first job) but to me it still feels like the most authentic silver screen portrayal of what I do. More modern shows often capture the cold, hard reality of the work better, which admittedly is just a bunch of text scrolling on a screen. And there are definitely works that better satirize the office culture, like Office Space and Silicon Valley. But there still hasn't been much that captured the excitement of the time, and can really explain to people outside of the industry why at least a certain subset of 1990s teenagers felt compelled to get into this apparently boring and nerdy career.
I suppose it's very "of its time", because nowadays everyone understands why kids want to get into IT - it's one of the most flexible and lucrative careers there is.