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That movie is ridiculous and still great. At least as a nostalgia pump.

And the red box references and pots patching and such were true enough, even if everything else got hilarious hollywood treatment.

If I recall correctly, the film actually had Emmanuel Goldstein of 2600 and Kevin Mitnick as consultants, so despite the hollywood treatment you have moments of accuracy like https://www.youtube.com/watch?v=4U9MI0u2VIE. Probably the only time Compilers: Principles, Techniques and Tools made it to the big screen. At the yearly 2600 conference, they used to always do a big group rollerblade through NYC.
Yeah it's a whole lot better than the usual Hollywood depiction of hacking which brought us gems like creating a GUI in visual basic to trace and IP address. And more importantly it doesn't take itself too seriously which I think makes the ridiculous parts work just like much sci-fi takes liberties with the science part when required for the story.
Interesting, yeah I thought there must have been some consultation there. Especially because there's a couple instances where the hackers rely on social engineering over the phone first, and faking the "coin added" noise on the payphone. I guess a hollywood suit could have come up with that, but I doubt it
Cereal Killers name was Emmanuel Goldstein, too.

That movie still gives me wardialing and 2600 meetups and “voice bridging from a Dennys payphone bank at silly hours” memories.