The 3-D glasses, though, just get in the way of seeing the more subtle elements of Fitzgerald’s masterpiece: the decay of souls, the crumbling mythology and the dark side of social mobility.

Image Credit... Fred R. Conrad/The New York Times

Some at screenings last week muttered at how appalled they were that “Gatsby” was being treated like a Disney pirate movie. One woman said the dizzying kaleidoscope made her long to see a small black-and-white version of the film. But the Australian director argues that Fitzgerald was a modernist who was fascinated with new cinematic techniques and jazz when it was dangerous, so he would have been intrigued by 3-D and rap.

Luhrmann told The Wall Street Journal that when he met with Jay-Z about scoring the soundtrack and showed him a rough cut, that Jay, who started as Shawn Carter, immediately connected with the other Jay, who started as James Gatz: “Jay turns to me and goes, ‘It’s an aspirational film. You know, the thing about this story is that it’s not a question of how Gatsby made his money, it’s is he a good person or not? Is there meaning in his life? And all these characters, do they have a moral compass?’ ”

Robert Evans, the legendary producer, was running Paramount when the studio made the 1974 “Gatsby” for $6.4 million with Redford and Mia Farrow, a commercial success despite being pronounced “as lifeless as a body that’s been too long at the bottom of a swimming pool” by The Times’s Vincent Canby. Evans said he spent some time with Luhrmann before Baz started the film and warned him not to overcommercialize and overpublicize the movie. (In vain, given the movie’s high-end tie-ins and the swag online, including “I party with Jay Gatsby” tank tops, Dr. T. J. Eckleburg laptop decals, and green-light pendants.)

“The trouble we had with our ‘Gatsby’ was that everything was Gatsbyized from your toes to your hats, from your stockings to your pants,” Evans told me. “It took it away from a work of art to a work of commerce.”

He believes the movie was damaged by a 1974 Time cover on the hype involved in selling “Gatsby,” a story that started with this Evans quote: “The making of a blockbuster is the newest art form of the 20th century.”