Zero cultural impact isn't right. It almost was such a big deal that it became cultural bedrock. Like, say, the Sixth Sense. Everyone talked about it until there was literally nothing else to say. It gets brought up, mostly in ways like this, just nostalgia.

I think that the mid internet years, after everyone had it but only about a third of us had broadband, and we started creating memes in earnest, was kind of instrumental in picking which cultural touchpoints really survived into the internet age from what came before. Had we made that transition when everyone was still talking about Arachnophobia, it would have been represented massively, and would probably have multiple sequels at this point. Or had it taken longer, and people would have already come back to it after the saturation point. As it is, it just got missed.

But start a thread like this one, you get people pulling on those memories.