A miserable sex "comedy." It's plot-less (the idiotic IMDb spell checker insists on the hyphen in "plot-less"), endless, and painfully dated -- though it's hard to believe it was remotely funny even in 1972. "What?" is a pathetic soft-porn version of "Alice in Wonderland" that fails as both parody and comedy. It's sad to see Marcello Mastroianni wallowing in this mess.
This is Polanski's worst film by a wide margin. It makes "Pirates" look like "Seven Samurai." (This is not intended as an endorsement of "Pirates," which is eminently mediocre by normal standards.)
2/10. Ghastly.