Warning: some minor plot spoilers below.
Ostensibly a Sci-Fi movie about the discovery of an unknown spacecraft which crashed in the sea 288 years ago, this movie has an interesting plot that is really an allegory for something entirely different, and has a fantastic cast that delivers this extremely well. The downside to this? If you're looking for a splash, crash, bang Alien encounter, you may be disappointed. Like 2001 or even 2010, the purpose of this story is not to titillate or entertain, with outstanding special effects, but to provoke thought.
Set in the present day, it sets the scene of the aforementioned discovery and the team that is brought together to be the First Contact team for what a shady US Government agency believes might be the first encounter with an alien society. For the observant, however, it becomes clear that there is more to this story than meets the eye. The author of the "Goodman Report" (Hoffman) which forms the basis of a specially commissioned protocol for First Contact is a psychologist (why he was commissioned by the George HW Bush administration is never clarified); the team he recommends are not only credible specialists, but also all ex-patients of his (an Astrophysicist, a Biologist, and a Mathematician, as well as himself). Thus is set the scene for a psychological drama that more ponders the darker sides of the human condition than any alien contact.
To say more at this point would be to irretrievably spoil the plot, but suffice to say we have what is basically a ghost story plotline where the ghosts are those of past relationships. True, there are moments of terror and some (for the time) splendid special effects. But what carries this movie is the breadth of acting talent on display. Sharon Stone, I believe fresh from her triumph in Scorsese's "Casino" is the standout star here, channelling the credible and breathtaking character of an otherwise strong woman laid low by her fears and vulnerabilities. Also standout is the then-relatively new Liev Schreiber: while not my favourite actor, he turns in authentic and squirrely performance as the likely Aspergers-afflicted astrophysicist. Naturally, Hoffman turns in his normal workman-like performance and Jackson too is credible. The small cast is filled out by creditable performances not only from Peter Coyote, but very tempered and professional cameos from no less than Queen Latiffah and Huey Lewis (of the News fame).
The result is a story that poses the question not so much (as would be obvious to most people) as what could we do with unlimited power to imagine and create, but moreover, what would our human fears and insecurities drive us to do with such unlimited power. This is an interesting reflection not only on the personal (as each character takes revenge on their compatriots for past misdemeanours) but also for the dangers of the power of advanced technology as well. At the end of the movie, the most poignant moment is when Hoffman begins to implore them not to relinquish their power, but then, reflecting on the self-inflicted tragedy they have just survived, realises that they are "not ready" for such power.
Other downsides? Well this movie is from the 20th century, so less-enlightened viewers might not rate the relatively slow pace, relatively primitive CGI and lack of crash-bang entertainment. There are also some horrendous scientific bloopers (the physicist incorrectly describes why Helium is used in deep sea dives, basing this on yet another blooper - that Oxygen is in the Halide family of elements). Additionally, this movie does feel a little half-finished: one suspects there was more to do to create the bigger stage for what eventually plays out like a small-cast theatre play. Even Hoffman himself felt there were "issues" that needed to be resolved. Additionally, from a directorial point of view, this movie does not seem to decide on which route it should take: deep and brooding psychological/existential treatise, or action movie? As a result, it seems unsure of itself.
But for the Zoomer generation, brought up not just on outstanding special effects, but also on great storytelling, this is a story worth watching. For me, it may miss the perfect five stars I give "2001", but despite all its failings, it is a truly wonderful and thought-provoking story. Recommended.