The movie won 3 Oscars FFS, including the Oscar for the Best Motion Picture, beating even Taxi Driver, and they got 3 nominations for the actors, for Best Actor in a Leading Role, Best Actor in a Supporting Role, and Best Actress in a Leading Role. All in all, it had 10 nomiantions that year.
Rocky is so much more than a boxing movie. It's a movie about the unbreakable human spirit, determination, and the will to "go the distance." The final fight, and the closing moments of the film are so emotional and inspiring that they perfectly demonstrate the human spirit and can bring out the will to win in anybody. It inspires us and shows that a "nobody" can become a "somebody".
This is withouth doubt one of the best movies of all time.