I reckon I followed about 80% of this.
Seven years into the future, Keanu Reeves plays Bob Arctor - a bogus junkie dude who's secretly an undercover cop. To convincingly infiltrate the tinny house that he's investigating requires him to take the illegal substance in question - 'D' - which he unwittingly becomes addicted to. As Arctor's belief in his perceptions of the world breaks down, the true agendas of the other people in his life unravel… or is that just his trippy grip on reality?
Robert Downey Jr. as James Barris is a revelation to watch here. He seems completely unaware of the disparity between his version of the world, and the actual world. Despite this shortcoming being inherent in the human condition (to put it lightly), he still seems to believe himself wise. Well, delusions of worldliness are something that most of us suffer from. See - I did it right there.
Blurring the sense of reality for the viewer, most of the film has the look of having been shot live action and then treated to appear animated, except for the occasional moment when the background slides around a bit. The movie's slow tempo is a mixed blessing, enabling me to connect with Arctor's housemates, but to nod off a bit when his monotone boss came on. For me, these elements combined to result in a home-made feel, particularly since treating video to look like a cartoon comes as stat with free editing programs like Windows Live.
A bleak, absorbing world, thankfully with a note of hope to close on.