What I've learned about the plot
This film is set in a Spanish film festival, which must have been very popular at that festival!
So naturally it's about watching movies, and apparently it recreates scenes from all of the following classic films:
Citizen Kane (1941)
The Seventh Seal (1957)
Wild Strawberries (1957)
Breathless (1960)
Jules and Jim (1962)
The Exterminating Angel (1962)
8½ (1963)
A Man and a Woman (1966)
Persona (1966)
It might be a good idea to rewatch these films first to be sure of understanding the spoofs of them?
Apparently it's an homage to cinema and existentialism.
Seems to have a great cast:
Wally Shawn, Gina Gershon, Louis Garrel, Elena Anaya, Sergi López, Christoph Waltz, Steve Guttenberg, and Richard Kind