In light of an upcoming "Shades of Grey" movie, this movie might be watched in a different light. Of course the overall theme is different, even though both movies will be about domination and sexuality. One thing the Grey movie will have is better actors overall. One of the sins (no pun intended) you have to put upon this movie.
The movie itself with its theme will either entice you or appall you. The fact that dialog is spoken without emotion (but a great part of the non actors cast in the movie) is bringing the movie down. There are themes here that are interesting to explore (depending on your sexuality more or less), but the movie won't entirely allow that.
Having said all that, the movie tries something almost honorable. It does check the character name box (symblism that is) and might leave a few questioning themselves and their lives. Unfortunately that again is undercut by very weak "normal" people who don't seem to be able to respond to the depravity they are confronted with. It would be more interesting and enticing (especially with a better script and actors).