I agree with a lot of the positive and negative reviews on here. I think this film has both elements.
I have a soft spot for low-budget indie horror. Beezel definitely gives that feel. The story spans nearly 50 years (beginning in 1966), but the entire film gives a 70's vibe... even in 2013.
I love a retro horror film. But doing the retro thing seems to be the go-to with a lot of horror films lately... especially set in 70's or 80's. It works when it's part of the plot. But a lot of horror filmmakers seem to use this throwback style of filmmaking even when it's not really relevant to the plot.
The story is told in 4 different chapters, each with different characters. The first 3 build up like a slow burn, each giving us a closer glimpse of the horror that dwells in the cellar of a house... but doesn't give us much more than that. The less is more thing worked for me. It made those glimpses scarier.
By the time Beezel gets to its last (and longest) chapter, it kinda fizzles out into a plot that feels stale... and the characters aren't very likable, which didn't really make me care about what happened to them.
Part of me would've liked to have learned more of the backstory/origin of the evil thing in the cellar. But another part me appreciated the ambiguity. Maybe we'll learn more if there's a sequel.