This is a visual masterpiece that outdoes the special effects of later movies with sheer artistry, because it is a magical piece.
It is a larger than life movie about a fight against evil. It begins with a "scout" giving two leaders a report. They each give him conflicting orders, and then ask which he'll obey. He says "Both", so they both call him insubordinate and condemn him to die.
He finds himself on the run. This sets the pace for the film, which is nonstop action and breathtaking visuals. It helps that the visuals are perfectly placed, and logical in their Magic.
The scout finds comrades, at first another warrior from an opposing side, and then later some monks who work in a very magical world.
The film manages to be the best of all worlds. In spite of the magic, the comedy of human errors is always there. The characters fly in the air, fight demons, and do outrageous acrobatics, yet bump their noses, can't swim, and get smacked by pretty girls. They engage in battle, but play dead at the first opportunity, only to find dozens of others also playing dead.
It is one of the funniest films of all time, and also one of the most passionate.
This is how to make a masterpiece.