I wasn't. For the time, effects limitations and zero faith in a Marvel film franchise with Punisher flopping the year before (outside of Hulk which was TV only) which meant LOW budget - especially for a Captain America origin movie, it was fairly solid. And to put things in perspective, that was 8 long years before Marvel would find success with Blade.
Yeah I wasn't basing my expectations for Cap off of the crappy Punisher movie any more than I was basing my expectations of Batman 89 off of the crappy Superman IV. I just remember than when B89 was all the rage Entertainment Tonight did a behind the scenes report of the new Cap movie acting like it was going to be the next big superhero thing. Then there was that theatrical teaser trailer with the shield flying against the starfield and I was getting pumped. Then 1990 came and went and it never appeared in theaters and I finally tracked down a VHS in 1991 or 92. Yeah...was not into it.
I should try and find a copy now though and see if I can enjoy it on any level at all with a totally different context.