Just saw this and on balance thought it was a very good and unique film. Would like to add that the cinematography and lighting are excellent, and the locations chosen are amazing. The atmosphere created by these two things alone made me enjoy the film - I could pretty much forgive the strange storyline. This is coming from someone who loved "Pi" and "Primer" - good scifi must have plausible science and in my opinion, and this is where "Moebius" fell short.
Subterranean Buenos Aires is an interesting and probably challenging place to shoot a film - but these students pulled it off admirably. There are some clever camera angles and tracking shots, and what looks like some post-production that brings some rich colours to the film.
Recommended as an unconventional sci-fi, in an unconventional time and place.