The first Robocop is all kinds of awesome. It is by no means a bad movie.
Look, cheesiness and campiness don't automatically make for a bad movie. Robocop, for instance, is satire. It is meant to be over the top. The people in it are shallow and prefer cars with shitty gas mileage. As for The Karate Kid, even if there are a couple borderline cheesey parts, the movie isn't any worse than classics like The Goonies, Animal House, etc.