The general plot is that a serial killer is preying upon virgins, to punish parents for a past misdeed. So, while introducing the new concepts of the 'good kids' getting offed instead of the bad ones and that sex does not equal death in a slasher movie, it's pretty clear this movie was looking to cash in on sensationalized teen sex more than the other slasher movies.
At the risk of ruining the 'surprise' ending, the movie is included here because the killer is dressed in drag (though why, we're not sure). In addition, the heroine has a gay friend.
Of interest, the actor who played the gay friend was also on Buffy, the Vampire slayer episode 'Earshot'