As I write this there is only one other Review of this Masterpiece by user Tornado_Sam. So what he says is all true in my opinion.
Together with Paul Sharits´ other Masterpiece T. O. U. C. H. I. N. G this is an absolute point of reference in film history. As for all real artworks done in the medium of analog film, you have to see it in the cinema in an analog film projection to be able to experience (and to judge) it. Watching some digital version in the net or on DVD does not help much in understanding or experiencing what is going on.
Of course people who need a narrative structure in any kind of film might not be happy with this one, as there is not a lot of it in this film. (But even in here there is narration. A chair falling or a bulb leaking.)
If you are a film-lover and ever have the chance to see it as an analog film-projection in a cinema, please go for it!