Don't worry about spoilers. I'm not entirely sure I know what happened.
I love obscure, ambiguous endings open to broad interpretation...up to a point. The ending here was a bit too "not sure how to wrap this one up, so...here you go." Roll credits. Or maybe it was the result of slash and burn editing. I don't know.
The lead (James) was believable and intense, and the mystery, atmosphere, and creepy imagery definitely held my attention. The music was...ugh. Distracting and, well...intrusive at times. Almost like the composer was scoring a completely different film.
I have my own theory about the ending, but this one requires a re-watch. Few horror movies warrant revisiting, but even with its flaws, this isn't one I'll forget 20min after the end credits. I'm not lazy about probing alternate interpretations, but I need something a bit more solid to work with. That being said, I will watch this one again and scour for clues. I rarely write reviews, but this one was effective as an "experience," if not as a full-fledged narrative.
If you're OK with the slow burn and can tolerate a "WTF" ending, give this one a shot. I can overlook some of the technical drawbacks if a movie is unique, memorable, and brave enough to abandon the horror formula. The cliches are here, too, of course, but this movie is miles above 90% of current horror fare.