Tadzio's point of view
Let me start off by saying that I loved the film. There might be well founded arguments for it being pretentious but personally, I felt that the discreteness of it all- the subtle emotions, the scenery, the atmosphere of touristic Venice in a lie etc- really captivates one's soul.
Anyway, the one thing that really troubled me was the question of what Tadzio sees in all of this. Is his swinging around flirtatiously and smiling a game for him? Does he just enjoy being in control of someone else? Why is he taking part in this- is it an experiment?