I loved this when it came out. Lars von Trier was one of its creators and has a collection of amazing films. Check out Dancer in the Dark (2000) if you haven't already.

But it should be remembered as returning to an earlier technique. For example, one of the two or three greatest directors to ever live, Abbas Kiarostami, has a film called Where is the Friend's House (1987) which is pure -- and pure magic.