It's sort of retro anti-cool
A bit of history, the Cobra was a catalogue version of the Mustang (sometimes referred to a white dog shit on here) which was responsible for some with only paper rounds or relatvely unwealthy parents for our first foray into mountain biking.
Although they were heavy and made with gaspipe they had parts that worked, such as the Sachs mech and shifters, the Weinmann or DC alloy cantis and Lee-Chi alloy brake levers and weren't as bad as some of the BSO's you get these days.
Probably the worst thing was the steel rims which were heavy and buckled if you sneezed on them, however they were loved by many a 13 year old in 1988.
I myself saved a little longer and brought a Maverick GT which was the model up from the one LGF posted which was a Maverick ATB, the GT added the nicer (but still gaspipe) ATT23 lugged frame (same as the team bike he showed) with regular non BMX sized parts (headset and BB). It had alloy rims and Mailard alloy sealed hubs (the Mustang and Cobra only got steel unsealed), Shimano light action gearing, flat bars and an alloy chainset. I was chuffed having saved for 6 months to buy it.
During it's life I added some hi-gear index shifters, a 6 speed shimano block for 18 gears
, a Deore II rear mech and some Exage Trail brake levers.
All was great until my mate rode into the back of a car and bent the frame and fork without telling me. Fortunately the insurance paid out and I got something far better.
However the time I had on my semi BSO live long in the memory and I covered lots of miles up and down hill, on and off road on it and of the bikes I used to own its the one with the best memories with it. I'd have another in a shot but it would be a garage queen probably and loved like some of the Kleins on here.