I think nowadays people are in to the "pretty boy" look over muscle bound freaks. To be fair to Arnie, he's had his day and a pretty good career. I know quite a few of the movies he's made have been knocked by people, but I could watch them over and over again.
Films like Running Man, Commando, hey, even Twins to an extent, are some of my favourites. I wouldn't buy it, but whenever Junior is on TV I watch it cos I think it's OK.
Then he's got some hardcore movies, like The Terminator, Raw Deal and End of Days. These types of movies show him to be the bad ass that he is and that we love.
Respect to the guy. He made his muscles work for him, and it paved the way to a glorious career. You can hate him, you can say he can't act, you can say his movies are crap but hey, he still brought in the cheddar, starred in some amazing movies and spawned off a bunch of imitators.
Only one Arnie. Always has been, always will be!