At 10, I'm not sure you would have gotten the context of the movie. It was a satire on the entire disaster movie genre that had permeated the 70s. As I said, nowadays it probably hasn't aged well, after 25 years the jokes seem stale, but at the time it was considered as one of the best satire films of all time.
*shrugs* Don't mean to argue with you. I just don't think Austin Powers compares. AP was stale from day one.