Of course Splatterhouse does not hold up. This was coin-op arcade game that was designed to suck you dry of quarters. There is never a moment of fair design at all in any level (like most arcade focused games).
There are swarms of enemies that move too fast, and come from too many directions that make it impossible to avoid taking damage. There is no way to memorize any patterns, since most of the time that the game is reacting to your placement on screen.
The 4:3 aspect ratio does not do the gameplay favors, since Rick is also very slow moving. The instant wall of death that is constantly creeping behind him can easily sneak up before you can react.
Games like this are the reason why people roll their eyes and scoff at ''retro gaming''