When the movie started, I was really enjoying it. My friend was talking and it bugged me because I found I wanted to be engaged - even if the concept was a bit silly or whatever, on the face. I thought the first reveal of the Frogman was fun, and was looking forward to the rest of it.
But found footage films are all about the thrill of immersion - feeling like this somehow could be real. If it's done right, it can make something average feel very impactful (see - Blair Witch Project). Unfortunately, Frogman suffers from some bad acting at times, but especially from 'film effects' that don't make sense. If we're watching 'found film' it doesn't make sense within the world of the movie to have glitches and flashbacks and psychological effects - so you get pulled out immediately. Unfortunately the end of the movie suffers a lot from this so I found the ending just a letdown because of it. It's too bad, cuz I wanted it to be good.