On par with Rays other masterpiece "Shatranj Ke Khiladi". Rays magic lies in capturing the "zeitgeist" of twilight eras. Just as he captures the moment of permanent decline of the Awadhi (Shiite) nobility in mid-century Lucknow in "Shatranj...", in Jalsaghar he lends us a peek into the decline of the Bengali zamindar class on the eve of its displacement from elite status. In that sense, the main protagonist is a metaphor. Ray's special talent lay in telling a story from his perspective without being judgemental. The zamindars foolishness and extravagance amidst a changing world is unveiled for the viewer who simultaneously can feel pity, derision as well as sympathy for his patrician ways. Unlike ideological cinema, which has tended to assign underdog/overlord dichotomies (with implication for good and evil nature) to its characters, Ray lets the character engage with his viewers. The irony of the once all powerful zamindar, having only his "blood" left as his remaining source of pride is a supremely philosophical moment. In a an era where everyone is judged according to settled norms of political correctness, Rays character is a reminder of how power, values, norms, underdog/overlord status etc are fluid mental and cultural artifacts.
In a nutshell, a brilliant work of art.