If Cobra had been a hit on the scale of Rocky / Rambo

Stallone would've been unstoppable for the remainder of the 80s, Cobra 2 wouldve been greenlit immediately for 1988 (Rambo III pushed to 89), then depending on how huge C2 would've been Sly would've had C3 in the early 90s maybe 1990

As it was Cobra was a hit but not a huge one on scale of Rocky/Rambo (made 50m domestic, compared to previous years Rambo II 150m, Rocky IV 127m..with both making 300m worldwide each, Top Gun/Croc Dundee the same year '86 made 180m domestic and even the likes of Star Trek IV and Aliens made 109m/85m), Sly then lost his box office footing as Arnold was becoming the new action king thanks to instantly iconic hits like Terminator, Commando, and Predator, whereas Rambo III/Rocky V both underperformed with movies fans and at the box office (Rambo III 60m domestic/188m ww, Rocky V 40m dom/120m ww), as Arnold continued to rise to dominance (and played mindgames/trolled Stallone into making comedy bombs Stop Or My Mom Will Shoot and Oscar), and movie fans the world over waited with baited breath for his return to Terminator

So really Sly NEEDED Cobra to be a stinking fat hit and kick off a new action franchise to compete with the might of Arnolds powerful action movies (and even comedy with Twins/KindergartenCop) .. culminating in the one-two knock out blow of blockbusters Total Recall (120m domestic/260m ww) and Terminator 2 (205m/520m).

However Sly would go on to have a Travolta worthy comeback in 93 with Cliffhanger/Demolition Man as Arnold had his first taste of bombing with Last Action Hero