Do Revenge was indeed very fun, though I'm left wondering whether the audience for it is current teens or just us millennials/Gen Xers who have nostalgia for that genre of film.

I suspect you may be right — everyone I know who's watched it so far is a millennial. I don't know enough Gen Z people to ask them if they're familiar with all the '90s teen movies, or if they even watch that kind of thing. I should ask my youngest three sisters — they're really the only Gen Z people I know.