Jackson Murray’s review published on Letterboxd:
A phantasmagorical, entertaining descent into madness and addiction as only the nightmare world of Freddy Krueger could allow. The decision to expand the role of protagonist among a team (the titular Dream Warriors) is one that pays off in spades, both in regards to the breadth of characters and the crazy deaths afforded by them. I absolutely love both the "Primetime, bitch!" kill and the arteries-as-puppet-strings deaths (two of my top 5 in the series). I enjoy that they brought back Nancy and her father. The writing is fun and well-done, both in dialogue and plotting. The direction is assured and there are definitely a couple of "holy shit!" moments.
My one qualm with this entry is that the ending is a little rushed and meh. It's unfortunate that the last 20 minutes are by far the least interesting, besides that stop motion skeleton fight that would make Harryhausen proud. It seems like the script had some awesome set pieces described that just couldn't be done on the budget allowed in 1987.
Killer movie, though.