Admirers put the British-made RED SHOES on equal footing with Gone With the Wind as a big-budget, sprawling epic of pathos, romance, love, and loss that represents intelligent, mainstream commercial cinema at its best (and, like GWTW, it was made while postwar Europe struggled through agonizing economic malaise and rationing). The Technicolor cinematography glows, and the "Red Shoes" ballet sequence is astounding; as with so many MGM musicals from Hollywood, what we see, though supposedly a "stage" show, opens up into miles of sets, multiple angles, and f/x (a discarded newspaper that morphs into a man) that could only happen in the movies (though this may represent Victoria's state of mind as she gradually surrenders her grip on reality to the fairy-tale world of the dance).
While you don't have to enjoy ballet to enjoy this movie, it definitely helps, and generations of young dancers have cited this film as an inspiration –- even with the decidedly sad finale, itself true to so many ballets like "Romeo & Juliet" and "Swan Lake" that end in casualties.