Which is to say the songs are feel-good cheesy, the story is basic and comes to a tidy conclusion and the dance numbers make we wish I'd stuck with the classes as a kid. If you know the story of this film, you know that almost all the songs are recycled, things the film company already owned the rights to. For something that was basically a "Make it on the cheapo" directive of the studio, it turned out pretty impressive.
That said, I find the stance of many that it is one of the best, if not the best, of the Hollywood musical to be a case of over-rating. It never rises above the level of "cutesy fun" for me. I end up appreciating the place the move has in people's hearts more than I do the movie.