It's literally a masterpiece. This movie shouldn't work. A story about the awesome power of dreams and the subconscious mind by somebody who truly believes in that power.
I don't know what the popular interpretations of this flick are, but my interpretation is sick dope. This movie is like a dead person's dream. In that respect, I love how much DNA this film shares with Pan's Labyrinth. It's a delicately woven tale about how our dreams inform our waking lives and vice versa, a tale about love and desire and pain, a tale reminding you how deep and dark you go, a tale about the blurry line that tries to separate fantasy from reality.
And in the context of David Lynch films, this one features my favorite transcendent moments and the film itself seems to transcend Lynch's portfolio on a level only matched by Blue Velvet.