Yes, I didn't get it either when I first saw it.
I think that brtndr Wed Jan 30 2013 13:08:18 explained it fairly well.
When I saw it I asked a friend of mine for an interpretation of it. Not everyone gets it straight away and I think she has the best explanation of what the film is about.
I have pasted it here word for word as I could not put it any better.
(It also has spoilers so if anyone has not watched the film...)
Richard is passive aggressive. When he was first in love with Elizabeth, it was booze and fun and he liked that she was strong willed.
Years later, he finds home life oppressive as Elizabeth dominates everything and belittles him for not being as good as she imagined he would be. She refers to this when she said that once, daddy had imagined he would become head of the dept, but that has never occurred. She spends most of her time telling him he is a loser, but she is equally as trapped as he is. If she really wanted to be in a better position, she would leave him and marry someone else. The reality is that she is dependent on him and knows deep down that she is just a big a loser. (she's an alcoholic)
To a degree, Richard knows this, so he has, in his passive way, felt that he really has the upper hand, because he is the sober one, and the one who will "look after the family no matter what". But of course, he is fooling himself, he has as little control over their relationship as she does.
Elizabeth has a habit of make-believe to make her life seem better. Richard has allowed her to do this, the way a parent might put up with their kid's 'imaginary friend' business. Elizabeth has created a "son" and each year they celebrate his birthday etc. In this make believe son, Elizabeth makes him achieve everything she hoped for for herself and Richard. The son is better than Richard (which she happily tells Richard to further crush him) but more importantly, the son has also done everything that she once thought she would do. He has embodied her dashed hopes and dreams that she hasn't got the guts to pursue.
(sorry, I forget their movie names...)
All of this has been going along for some time. Richard has probably wanted to pull the pin many times but never worked up the nerve. When Honey and whatshisname appear (they get invited along to the home because they are new on campus), Elizabeth involves them in some mindgames that drives Richard mad - that is, she overstepped the boundaries because Richard doesn't mind her taking her anger out on him, but it is unacceptable to him that she is now abusing some strangers.
Honey discovers that the "son" is made up, and unwillingly she becomes Richard's pawn - Richard uses her to make Elizabeth 's son's death non-negotiable. Without Honey, Elizabeth would have just talked Richard out of it and they would have continued making up stories about what the son was doing the day after. It's two against one.
After the guests leave, Elizabeth is reduced to an equal. She realises that she can no longer pretend she is any better than her husband, and realises that she cannot threaten that she might leave him - afterall, they both depend on each other the same way.
I hope this clears up what the film is about.
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