So the entire film is about this girl who almost ran away from home who enlists in a sleep study. They monitor her brainwaves on trippy CRT monitors from the 90s and transform them into images to see what she is dreaming about. More or less everything makes sense until the very end, when the spell is broken and you realize that it is all a pretentious movie with "a message" that you care nothing about at all. I don't want to spoil it, because many people seem to have enjoyed the dream mysticism and symbolism of which the film is full of. Myself, I was intrigued by the obvious plot and was severely disappointed by the ending.
All in all the acting is decent, the pacing is slow, but consistent and the dream sequences, even if they look like something made in a few days on a 3D designer, are pretty cool. What I disliked profoundly is the bait and switch at the end.
If you want to enjoy it, take it as a personal project of the writers to express something personal, like Phantasm was, and give it a try. Just know in advance that nothing truly scary or active will happen and that the film is slowly, very slowly, getting to its point by avoiding it most of the film.