The film spoofs the cult of celebrity and experiences film producers can undergo when attempting to get a movie made in Hollywood. Time Out Film Guide called the film a "satire on Hollywood's lunatic fringe." The Seattle Post-Intelligencer noted that "it takes swipes at stupid action films" and "the ageism of the industry." The Seattle Post-Intelligencer also noted Eddie Murphy's ability to spoof himself in the film, including "kidding his own legendary paranoia, evoking his real-life sex scandal and allowing himself to be the butt of Martin's extended gag." Leonard Schwarz of Palo Alto Online described the film as "arch and knowing about the ways of Hollywood", including "producers who want to keep their cars more than their kids when they get divorced." Russell Smith of The Austin Chronicle noted the film's satire of "L.A. movie culture, and brain-dead blockbuster films." An article in the San Francisco Chronicle by Bob Graham wrote that "Martin the writer plants some wicked barbs in Hollywood's rear end about creative financing of movies and hoarding of profits, the art of the deal, hipper-than-thou attitudes and exploitation." Laurie Scheer wrote in Creative Careers in Hollywood: "Steve Martin's performance as Bobby Bowfinger is one that is not to be missed, especially if you are choosing a career as a producer."
