Am I missing out? No, no I'm not. The background is really nice, but it's hard to get immersed in it, most likely because of the camera. Simply having the camera zoom in and out slightly at different points, or better yet, adding in a way to control the camera's zoom with two buttons, would have made the whole game more engrossing. On top of that, I found the animation to be rather minimalistic and the controls to be a bit slow for my liking.
You say there are hidden features and that this game is an experience, but there isn't really anything to do except sit and watch. Most games that are more of an experience than being objective use the interactivity of games to build upon the experience, rather than to deliver more still images to the player. flOw is a good example of how this can be done, and Silent Hill is a close follow-up as well.
I guess the part of this game that really annoyed me the most was how the dialogue was so poorly written. It didn't really touch on anything serious or intelligent, in my opinion. I remember playing Colour My World, and both that and this game have romantic themes that don't really dive into the depth or complications of what love really is, which I find particularly ironic given that the black and white them and music are supposed to be more somber and even melancholy. I'd also note that the music itself got really annoying, probably due to the lack of a bass line to keep the whole piece grounded properly.
Anyway, the graphics look great but I think incorporating them into a game was a mistake. There's a right way and a wrong way to draw a gamer into art, and this is definitely the wrong way.