OK, so it wasn't a great movie by performance standards; maybe judged differently by baseball standards.
Ruth's prominent years came in the 1920's, right after the Black Sox scandal of 1919 (brought to light in 1920). It's widely accepted that he changed the game and probably saved it.
About 2 months before his death, Babe Ruth was given a "day" at Yankee Stadium. He could barely speak to the enormous crowd who had gathered to bid farewell to a man they loved. Maybe little kids didn't gather outside his hospital room to sing "Take Me Out to the Ballgame", but the prevailing feeling is that they could have.
More than an other American activity, baseball bonds generations. My dad and I spent hours watching and discussing the game; then my kids and I. Now my grandchildren and I do the same. The "Babe Ruth Story" might have been poorly scripted and acted, but it affected me emotionally when I was 10, and still does today.
The movie has many flaws, but still has lots of love to give.