Moulin Rouge has several qualities worth appreciating, although it feels uneven at times. The acting was superb across the board. I'd say Nicole Kidman delivered her finest performance to date. Ewan McGregor typically doesn’t bring significant depth to his roles, but here he did so considerably. Jim Broadbent was charming, and Richard Roxburgh portrayed a very believable villain, right down to his mannerisms. The development of each character was well-handled. While the other actors were also good, the story didn't provide much opportunity for their characters to be explored in detail; they mostly served as background or scenery for the main four, sometimes feeling like convenient plot devices or simply windows through which we observe events. There were many aspects of this movie that I enjoyed, especially the scenes exploring Kidman and McGregor’s relationship—that really made for a strong middle section. The first and final acts, however, suffered from Baz Luhrmann's extremely fast editing style, almost frenetic at times. His approach isn't for everyone, but in this film it prevented any real depth from developing in those sections, making them feel overly flashy and attention-seeking. This created pacing problems; I think if he had slowed down and prioritized the characters over trying to cram as many shots as possible into the movie, the story would have progressed more smoothly. Another significant problem with the film was a disconnect between the theme it seemed to be developing and where it ultimately arrived. The entire movie builds towards a message about having faith in love regardless of what happens, but the final minute and a half shifts abruptly to tragedy that felt unnecessary and not properly set up. A more satisfying conclusion would have been if the characters had questioned whether love was truly enough, followed by a tragic event that confirmed their doubts. Instead, we’re presented with an ending that suggests the main character's belief in love was entirely false, leaving us to assume he was pretending all along because his faith clearly wasn't strong enough to withstand what happened. This isn’t about needing a happy ending; it’s about avoiding a sudden and cheap attempt to manipulate the audience’s emotions without sufficient groundwork. It felt rushed and unearned. (And I’m not referring to the event itself, but rather how it impacted the character.) Despite this, I really wanted to like this movie more than I did. There's a great second act with excellent performances and characters that are easy to root for, but the pacing issues and inconsistencies in creating a story that flows naturally prevent me from giving it a higher rating. Overall, though, it’s still quite enjoyable and worth watching again.

Source on TMDB