Well, it does have a plot, it does have nudity and it does have sex. It is some kind of vintage soft core pornography with many modern peculiarities-- like the masturbation scene.
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But, nonetheless, it is also a hard movie to watch until the end. That is the true problem with soft core. Along with hardcore-- but that's another problem... the plot is quite simple, understandable and sometimes stupid; the sex scenes are also simple, predictable and cut quickly.
So, let's see. A classic, yes. It must be watched. It must be rated. It should be reviewed. Should it be watched in its entirety? Well, that is up to you-- it's not like it is some kind of "torture porn" but it isn't an Oscar winner. Just see what you want to see. And that's what I recommend.
Culturally speaking, it marks an age. The seventies followed the peace and love lifestyle from the 1960s and this erotic masterpiece it's a proof of that. Engaging sex with maids, lesbianism and orgies are just a beginning of a world gone mad. And a peak for the pornography industry.