what was the point of this?

It's a mystery in the truest sense -- there's no easy answer. The point is that there is no explanation. Instead the movie focuses on the reactions of others to the mystery.

But, still, the viewer can't help but chew on the material and try to connect the dots; if not in regards to what actually happens to the missing females, at least concerning the film's message.

I think it means: The only way to escape the constraints/limitations/corruptions of a flawed society on Earth -- with the understanding that every society is flawed -- is to literally leave the Earth.

A friend of mine once gave me his account of seeing Hanging Rock for the first time. He said he couldn't get it out of his head afterward as he tried to make sense of what happened to those girls. Some people enjoy the mystery of it--the fact that it does not spell out what happened. It's like 2001 in that respect.

The film was an examination of the people left behind, their reactions and how Victorian society (with its latent suppressions) and culture shaped their response to the event. Commentary and character study I'd suggest. The girls disappearance is secondary, and relatively unimportant beyond what you see.

If you dig around a little, you'll find online what the author originally had in mind for the big reveal.

Prepare to be disappointed if you do.

I would tend to agree with you--it did seem rather meaningless. I've noticed other people alleging the film is some societal or cultural commentary but for me it doesn't work as such. Apart from the beautiful photography, the mystery was the only thing keeping the film interesting. For there to be absolutely no resolution in that regard was pretty weak.

I enjoyed the eerie atmosphere of this film. It’s style is dated but it has a similar tone to films like The Virgin Suicides, The Blair Witch Project and the recent Yellowjackets series (which had potential in the early episodes but just dragged the story out too long.)

Not every plot has to have a resolution to tell a story. There are unsolved mysteries in the real world and this film explores the frustrations and hopelessness of never knowing the truth.

Funny enough I was about to defend the film and respond but I took a moment to check the origin of the story/book that it was based on. As it turns out I had seen this film, many years ago, with belief that it was all based on a factual event as a result of a recommendation. It wasnt. Had I know that prior to seeing it I can imagine feeling the same way as you. As a matter of fact there is very little chance I would have watched it had I not thought it was based on a true event. If its based on a true story than its creepy and mysterious if not its just another fictional tale with a wholly unsatisfactory ending. Conclusion… You are correct sir! 🙂

I rewatched it today, having seen it once when I was very young and been underwhelmed. Up until today I, too, had always believed this to be based on a true event. While I agree that knowing it is fiction diminishes it to a point, I was much more impressed by the film as a whole than first time around. I tend not to appreciate movies that offer no answer to the mystery - it too often comes across as lazy writing - but ‘Picnic at Hanging Rock’ has such a one-of-a-kind dreamlike atmosphere that the lack of closure, for me, somehow works to its advantage.

To show how a town reacts to a strange situation/event. Like those unsolved murder films where the policemen become obsessed with solving the case. The not knowing what's gone on. Certainly a frustrating first watch, if you go in with set expectations.