Honestly a great film.
It was like a trippy fairy tale meant for adults, amazing cinematography and color palette. Film is a visual medium therefore it doesn't necessarily need to always tell a story, it can be an experience as well. You can get a story out of it, but even if you don't, you can just enjoy the ride. I don't see how this is any different from films like Eraserhead/Lost Highway/Inland Empire or Gummo or Enter the Void or a Kenneth Anger/Ken Russell flick or even one of Kubrick's trippier films which are all considered great. It's an experience, sit back and enjoy.
"Ever danced with the devil in the pale moonlight?"