Historical drama, battle between two illusionists ... you expect a twist, something surprising ... God knows what exactly is going on. And what do we get after an hour and a half? The Star Trek transporter as the answer to all our questions.
If that doesn't make you feel a little screwed, I don't know what does. Very bad. Surprising, though.
Tesla's machine didn't work like the Star Trek transporter, at least not a properly functioning Star Trek transporter. The fundamental difference between the two is: Tesla's machine created an exact copy, leaving one in place and transporting the other, with no way to know whether the original got transported and the copy stayed in place or vice versa. That created a huge problem for Angier (a problem which wouldn't have existed had it worked like the Star Trek transporter), i.e., what to do with the extra Angier after using the Tesla machine (his solution was to murder him). It also created the problem that, when using the machine in his show, he never knew whether he'd end up experiencing drowning in his own trap or being safely transported.
Also, that fundamental difference between the two is what allowed him to frame Borden for his own murder while continuing to live on as Lord Caldlow.