These are what we call the 'YMMV items.' Things that some people find in this work. We call them 'your mileage might vary' because not everyone sees these things in the same way. This starts discussions in the trope lists, a thing we don't want. Please use the discussion page if you'd like to discuss any of these items.
Audience-Alienating Premise: Big time and the main reason the film was a major Box Office Bomb. Most kids won't want to watch a depressing movie that centers around child abuse, and most adults will be turned off the ridiculous Family-Unfriendly Aesop of how it's OK not to tell anyone about an abuser if that person makes someone else happy.
Family-Unfriendly Aesop: Many feel this. Firstly, Mikey helps cover up The King's abuse of his brother, because of his promise and to keep their mother happy (which the movie implicitly endorses). Secondly, the idea that kids can expect fantastical solutions to real-life problems like abuse.
Narm: Some critics thought that The King being The Faceless, having such a ridiculous nickname (for an adult), and having a cord named Old Trusty that he uses to beat Bobby, is this, portraying such a serious issue as child abuse in mythic terms.
Fridge Brilliance kicks in, however, when one realizes that the story is told from a child's point of view, and children do tend to see the world around them in mythic terms. Except Richard Donner shot that down, leaving one to wonder what exactly he was thinking.