On the face of it, this movie is pure gimmick. It's a black and white movie, made entirely in the style of a silent movie. With few exceptions, the only sounds we hear are in the movie score. There are cards with quoted dialogue on them, just like in old times, but most of the movie is conveyed through the acting.
At first I was irked by this, because it felt very gimmicky, but it really grew on me. The acting that is needed in such a genre is different than in the "talkies" and it was interesting to experience it. It required close attention, and it drew me in to the story. The movie has a ton of heart and it's easy to see why it got so much praise.
The story is somewhat similar to 'Singing in the Rain'. A silent movie star (Jean Dujardin) has the rug pulled out from under him but the inclusion of sound in movies. He rejects it and feels that it will have no place for him. (Very late in the movie, we find out why.) The change in movie style happens just as the Great Depression hits, so he goes from stardom to poverty.
Early in the movie he meets a young woman with a great smile (Berenice Bojo) who wants to get into film. He helps her with some advice and she soon becomes America's sweetheart. She succeeds just as he fails, like two arms of a balance. Their relationship is interesting. At many other times in the movies, they would have ended up in bed together, but 'The Artist' really shows them as having a strong friendship, without hinting at more.
This won the Oscar for Best Picture in 2011, which I remember as being seen as a surprise. When I've watched all of the movies from that year, I'll circle back and say whether I thought it was deserving or not.