In an article explaining Mulholland Drive for the masses, a group of Salon writers (it takes more than one person to extract meaning from this film) notes of one of many incomprehensible segments that "It's also part of the confusing background noise Lynch likes to put into his movies."
If I can make sense of the Salon piece (and it's about as coherent as the film itself), they are suggesting that most of the film is a fantasy that one of Naomi Watts' characters is having as she masturbates. Judging by the immense volume of explication which has spewed from viewers since Mulholland Drive appeared, this suggestion is ironically appropriate: a movie about masturbation leads to a mass circle jerk from fans who like nothing better than wallowing in confusing background noise.
I liked the first two hours of this movie, in a Twin Peaksian way. Naomi Watts does a terrific job. Former Miss U.S.A. Laura Elena Harring is astoundingly beautiful, and the hotcha lesbo fuck action is, well, hotcha. Ultimately, you could save yourself a couple of hours of your life if you just downloaded the hotcha fuck action from the Internet and masturbated to that, rather than sit through the whole damn movie just so you could jerk your brain off. For the sex, for Naomi Watts' thespic skills, for Laura Elena Harring's looks, I'd give this a six on a scale of ten. But don't ask me to explain the movie, because I don't have the slightest idea what it was about.