I would put this as one of the most beautiful science fiction films ever made ...
As much as this is an homage to Blade Runner it also draws heavily from the Matrix and HK Cop films. Like a great hip hop record or a Tarantino film, it weaves familiar elements together in a way that not only seems fresh but gives you a new appreciation for the original sources.
One of the things I loved most about this movie was its look and in particular the way the CGI was integrated almost seamlessly with 'real' live action cinematography. As opposed to many western sci-fi movies, for example the new Star Wars movies or I, Robot where the actors are shot on a green screen and then composted over a completely synthetic background.
Natural City might use a shot of a cityscape and then drop in CGI elements like a craft flying over. They employ another technique which was used a lot in 70's scifi films like Logan's Run - inter cutting SFX scenes with live action that was just shot on real, futuristic-looking locations. This really balances out the artificiality of the effects and shows that a little can go a long way ...
The result is an extremely realistic look and feel to the movie. I believe that this is what the world could look like in 2080.
Natural City's only real flaw, in my eyes, is that it does tend to get slow in a few key spots. But every shot in this film is so gorgeous it's hard to know where they would cut.
All in all I really enjoyed this film and would highly recommend it.