The first twenty-eight minutes is one of the best short films ever

It gets better after the first 28 minutes.

I agree—the film started out excellently. Immediately drew me in with the crackling dialogue, riveting performances, and a general intensity that I was not at all expecting from a drama based on a talk radio program.

However, while Bogosian's character was absolutely electric throughout that first half-hour, he did start to wear thin as the film progressed. The performance remained good even as my interest in the character lessened, but after a while I just got sick of his obnoxious behavior and heavy-handed social commentary—which was basically what the entire movie revolved around.

By the time the end rolled around, and he met his obvious, telegraphed demise, I really had no emotional reaction whatsoever.

I still thought the film was above average overall (perhaps even good), but as you said, that first act was truly masterful.

Couldn't be made today but that's it's charm.