So, spoilers: The Usual Suspects is actually pretty shitty.
It has a good reputation in a many quarters, launching the career of Bryan Singer (who went on to direct some good X-Men films and a critically-reviled Superman reboot) and featuring lynchpin performances from Kevin Spacey and Gabriel Byrne. It’s mostly remembered for that twist, one of the most memorable of the twist-heavy nineties (recently hilariously parodied in Happy Endings).
Yeah, Singer’s direction has a couple great moments: there’s an inspired crane shot (reused twice) and the editing of the climactic twist goes a long way towards explaining why it’s so effective. And Spacey (and to a lesser extent, Posthlethwaite and Byrne) does an impressive job, a few years before his slide into later-era Pacino-esque overacting.
But there’s so little to the film. The narrative is hopelessly reliant on the twist. There’s an uninteresting small-time crooks storyline jazzed up with the “Who is Keyser Söze” hook. You can improve average films with a clever twist that rewards rewatching, but there’s nothing of the sort here: an unreliable narrator means that a rewatch only reveals the shallowness of the screenplay; there’s no reason to believe that anything in the film actually happened.