i think, if i compare it to scream (being also a highly referential comedy horror movie), fright night is the more enjoyable film in itself, but its overt metatextual elements were weaker (being mostly just allusions to vampire films as a whole; although then again maybe there's a lot of more specific bits i missed because of my limited familiarity with the genre and the film not namedropping specific films)
also, unlike scream, fright night was actually a horror movie with comedic elements rather than a comedy full of horror references