In my opinion is a wasted opportunity. I've seen the movie 10 years ago and I've been re-watching it recently.
First of all, the movie does a great job at the aesthetics amazingly portraying the 1933 Paris, it gives you that good old warm European vibe which is quite unique, is a simmilar vibe with The Grand Budapest Hotel or The Magic Compass. Another bonus is that the movie since was made in 2011 is not woke and portrays 1933 Paris how it was supposed to be, and I love that.
Now the cons:
It had a lot of potential but unfortunately all of that was wasted, the characters are kinda boring, fake and they doesn't make you invested emotionally and they don't feel attached between eachother.
To be honest I found myself more invested into the police officer Gustav and the flowers lady from the train station and their love story, even tho they are non-important characters their background made you invested, how the officer got wounded during the war during the Battle of Verdun and how the lady lost her brother there..etc
Also when she puts the flower on the officer's uniform button makes the connection feel authentic and warm.
On the other hand, the main characters feel kinda cold and disconnected from eachother. They don't act naturally or even show genuine emotions. Also, you can't get attached to them because the lack of background. We don't know how and why Hugo's father died in that fire (they could've at least made him so that he died in WW1), we don't know what's the deal with his uncle and why he's acting rude and what even happened to him, did he died? Or what? Also, that machine thing until right before the end has literally zero background just that was found in a museum basement and that girl has the heart shaped key for it (even tho he could've literally use heart shaped piece of wood and a screwdriver to use it as a key), we don't know what happened with Hugo's mother just that she died in London, we don't know what happened to his father's shop after his death, Hugo was just taken away in the middle of the night, and he didn't even cried or have any emotion when heard the news about his father's death he was just staring at his drunken uncle...etc
I believe they could've made an amazing movie if they would've actually invested more into the characters and their backgrounds.
Conclusion:
Aesthetics and vibe 15/10
Storyline 5/10