It kind of reminds me of Donnie Darko, in that the film becomes increasingly abstract as the story evolves. I personally feel like that's more of a cop out writers use to dance around common tropes and cliches that are synonymous with the standard plot formula. It's not one of my favorites--imo slightly overrated--but, it does stand out as being a more memorable movie.
I found the satirical themes to be greatest element in this movie, more so than the amazing cast (FYI Norton=Magic). It really mocks the impression of the theater industry whilst giving an accurate measure of where the acting profession is going, or where it already is.