People call it a failed classic, though I admit that I have no idea of what that term means.
I was reading up a bit on it last night. In the US, the studio was not happy with the final product for obvious American-dumbed-down reasons, and also scenes like the spoiler
rape. So, Leone was like “Oh yeah? Well check this shit out,” and brought the film over to Europe and Cannes, where it was
lauded. Nonetheless, back in the US, the studio execs were still not happy, and forced them (IIRC, the cuts might completely uninvolved Leone,) not only cut the US-version’s runtime in half, but also replace the flashback structure with a linear narrative (which, as you can imagine, would make absolutely no sense for the viewer.)
Despite the cuts, (
because of them, actually,) the film was a box-Office disaster, nearly bankrupting the production company, and obviously devastating Leone who had been working on this for a long time (he declined to direct the
The Godfather.) The poor guy’s health literally went to shit (ok it wasn’t great to begin with but still,) and he died five years later in 1989, without ever having made another film.
I think the European, a.k.a. actual, version was released on VHS a couple years later in the States, and Martin Scorsese helped restore a near-full version in 2012. So, yeah, while oxymoronic, a failed classic is pretty spot on. I would think there are still a great deal of people who have never seen it, which is understandable considering it’s legacy (or lack thereof,) runtime, and possible even the fact that it’s a 70s gangster-period that came out in the mid-80s, which is kind of odd [
The Untouchables (1987) is another one]. I mean the movie is
epic, to the point that it makes
The Lord of the Rings seem brisk
; not to say that it is boring or drawn out, it just a
lot to take in, containing so much dramatic content, spanning so many years, with fully-realized historical and period accuracy. Not something I could watch like once a year, but given the time, it is a nearly-objective masterpiece (similar maybe to something like
War and Peace).
Tl;dr: the whole thing was a cinematic tragedy.