I'm an 80s kid (so barely Gen X) but I did miss a lot of movies ... didn't have the ability to see whatever movie I wanted at my age. However, there's been so many references to these "formative" movies I've noticed throughout the decades ... so recently, I don't know what's wrong with me but instead of going through a lot of the soulness Netflix movies (yes, I know there are a LOT of gems too) ... what I've decided to do is watch a lot of these classics and then I watch YouTube analysis/review videos of them. So even though I may not get to see people talk about the impact it had on them.
You just listed St Elmo's Fire so I may have to add that to my list.
You should see the interviews with some of these guys afterwards. They were saying how they hated how people saw them on the internet and assumed they were terrible people without knowing them. Yes, the racists were upset about being pre-judged.