I will give the movie some credit. I think the visuals were very good for its time, and I can see how it was stylistically very influential to other films down the line (though I can't quite forgive it for being the origin of that CSI "Magnify and enhance" bullshit).
The problem is that it's just not very enjoyable to watch. I know I nitpicked a lot of the details, but that's because the film wasn't keeping my interest, so I was able to find little things to nitpick about. That doesn't happen in captivating films.
Edit:
"there's a dwarf with a long nose in the house of a man who create artificial creatures... it doesn't make sense!!"
That guy was the only "artificial creation" I saw in that house that was actually played by a real actor, AND he was restrained and struggling to escape, so I guess I made the assumption that he was an actual person being held prisoner.