This would have been a fun Twilight Zone 25 minute episode.
Dialogue? We established these characters and what they do by... having kids ask the characters who they are and what they do in the opening segment? Talk about being lazy.
Acting? I feel like they must have spent their entire budget on the two "teenage" kids (played by Wolff and McKenzine). We know they have acting chops from Hereditary and Last Night In Soho. This was so far below their paygrade. The rest of the characters were either complete caricatures or in the case of the mother -- one of the worst actresses I've ever seen in a major role.
Plot? Well it's completely lacking, but it's an M. Night movie so it's really about the twist/reveal... And the reveal was... meh... But even then, it's almost like it went out of it's way to make it cringe. So the two swim through the mysterious coral to get "out". Fine, we get it. But no we need to have M. Night's character literally spell out for us that he "watched for a minute and a half and they didn't come up". Welp, guess that wraps things up, can't wait another minute or two. But then late in the movie we go BACK to the coral escape to show... they escaped... AND OH LOOK FISH ARE SWIMMING AROUND THEM DO YOU GET IT EVERYONE THERE ARE LIVE FISH SO THEY MADE IT OUT!
End movie.
Oh no wait, we go back for a helicopter scene to lay the heaviness of how the 6 year old nephew that looks 50 will be living with his Aunt. Because the previous 90 minutes hadn't made us think about that concept over and over and over again.
Woof.