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.
A testament to the soundtrack's awesomeness: it was certified 6x platinum in 2001 (meaning 6 million copies sold), and it's listed as one of the top twenty best selling movie soundtracks of all time.
The song Hit'em High, the theme song of the Monstars, has some of the most popular rappers of the 90's - B-Real, Coolio, Method Man, LL Cool J and Busta Rhymes - putted together for this one song to sings on how badass and awesome the Monstars are and that no one stands a chance against them.
Harsher in Hindsight: Daffy's complaint about them not getting royalties for merchandise is funny at first, but it becomes less funny, if one knows that Chuck Jones once complained in the late-90s, that over the years it always annoyed him that he, and the other creators (such as Friz Freleng), never ever got any kind of royalties for Looney Tunes merchandise, despite them being the actual creators of these characters.
Also, when Jordan tells Bugs and Daffy to get his lucky UNC underwear from his home, Daffy replies "Your house? In3D Land?"
Not to mention the Looney Tunes themselves appearing in 3D CGI shorts since 2010.
In 1995 there was a basketball game similar to NBA Jam called Looney Tunes B-Ball. One year later Space Jam comes out.
Just Here for Godzilla: Some reviewers insisted that the only reason to watch the movie was for the Looney Tunes characters and the actual basketball game at the end — the rest was junk. Some were only there for Michael Jordan. Others were only there for Lola Bunny.
Alternatively, the only benefit of seeing these famous cartoon characters is to encourage one to go watch the far superior classic shorts.
Memetic Mutation: People seem to love remixing the Space Jam theme song with other songs.
Narm: Pretty much any dramatic scene fails a bit in some way or another. Michael Jordan should really stick to basketball instead of acting. Even baseball.
The scene where Stan comes in to Jordan and the Looney Tunes, roughed up, and his line: "The Monstars stole the talents from the other basketball players!" is delivered in such a corny fashion you'll just stifle a laugh at the scene.
The Scrappy: Lola Bunny is this for a certain number of Looney Tunes fans. Positive Discrimination is a big factor. Since she was female, she could never participate in slapstick or display any flaws, making her seem like an unfunny Mary Sue.note However, this doesn't apply to her depiction in the Looney Tunes comic book or The Looney Tunes Show, where Lola is as slapsticky and flawed as everyone else. The whole "furry" thing certainly doesn't help, either.
What Do You Mean, It Wasn't Made on Drugs?: It's a movie about Michael Jordan training the Looney Tunes to defeat aliens in basketball. It's a movie about Michael Jordan training the Looney Tunes to defeat aliens in basketball. Somebody sat down and said, "You know what would be a good idea? A film about Michael Jordan teaching the Looney Tunes characters how to play basketball. With aliens." Even in universe, this sentiment is enforced. When the NBA players visit a medium to find out what is wrong with them, she ends up summarizing the whole plot. The players, once hearing it, leave in disbelief.