This is like, half a Fellini film, which makes sense considering he only co-directed this thing. Still, a good start for a great director, and fine in its own right, even if it's not nearly as good as his later works.
Kinda disappointing in the grand scheme of things, but understandable for it being such an early effort from one of my favourite directors. The concept was interesting and the moral fair, it just lacked the scope and creative experimentation of Fellini's later work.
I liked in VARIETY LIGHTS the way Federico Fellini films the members of the troupe and their acts. He doesn't despise them at all. We do smile when they do their best to entertain the public but we smile with affection. Highly recommended.