Yeah Indy, you can look at it that way.
Or you can compare it with H.P. Lovecraft's short stories where the narrator is doomed right at the beginning and all his efforts are vain, with a videotape replacing a diary.
I liked the extreme simplicity of the movie and the distance it took from all the clichés of the genre:
- no ridiculous gory effects
- no music to emphasize the effects
- no overused tricks like 'AAAAAAAH!!!...Gee it's only the cat!" and "whew the bad guy is dead........OMG no he's still alive!!!!"
I liked the fact that some work was left to the spectator's imagination instead of chewing everything for him like almost every Hollywood production is doing those last 20 years.
I found it very refreshening.
Anyway, if you decide right at the beginning of a thriller that you won't buy it, you can laugh you rear end off through good movies like the Exorcist, the Shining and the 1st Alien... Without a bit of cooperation from you, there is no such thing as a scary movie.