Lake Mungo is jarring, tense, depressing, and compelling throughout though a few of the twists along the way were unnecessary and lacked any sort of payoff.
Quite the freaky little film. It's somewhat both a strength and a weakness that the credits were the most uncomfortable part of the entire viewing. Maybe not the most conclusive ending possible, but for a film that spends the entire runtime building tension, it's pretty satisfying, pretty terrifying, and without a single jumpscare!
... okay maybe there's like, half a jumpscare.