Basically it's about several different strippers that are gearing up to participate in a competition at a stripper convention in Las Vegas. The documentary filmmakers follow the girls, get their back story, and watch how things turn out for them at the big show.
In many ways, it prefigures a lot of the "reality" TV stuff that would come out twenty years later. The hook is to develop rooting interests in each of the contestants and see how it all unfolds.
To that end, "Stripper" has both good points and bad points. The good is that the production values are high and it is moderately entertaining to get invested in the dancers' ambitions. It could have been much more exploitative but tries gamely to be, well, a documentary. To a point, it succeeds. The bad is that, like much reality-based drama, many of the scenes feel manufactured and staged for the cameras. The final competition might just as well have been assembled for the purpose of making this film.
A fair amount is superficial and can't be taken seriously. It's the softest of the soft core porn, so those looking for arousal should look elsewhere. But there's more than a glimmer of entertainment and human insight to be had, especially considering that this was done a generation before every empty-souled schnook looking for attention went on reality shows and both producer and viewer alike knew what to expect.
This film does it well back before people started doing it poorly.