I am a PT Anderson fan all day, and Licorice Pizza is among the director's funniest, warmest, most nostalgic and gorgeous. Set in the Valley in the 1970s (like the same director's Boogie Nights and Magnolia), it is about a 15 year old child actor with a major crush on an older woman, Alana. Please disregard the outrage. The kid, Gary, played by Cooper Hoffman, Phil Seymour's son, is based on a real character, Gary Goetzman, an actual child actor in the 70s who later became a big time producer. (An old LA Times article mentioned Gary's chaperone on a trip was a 25 year old burlesque dancer, which inspired some of the plot.)
Waterbeds, pinball machines, gas shortages, entrepreneurial frenzy, Barbara Streisand's egomaniac sex crazed lover, local politics, motorcycle stunts performed by Sean Penn and encouraged by Tom Waits, a magnificent soundtrack and score ... it's all there I am prepared to dropkick the next person who brings up the age difference of the main characters. Duh, dude, it is part of the story. Do a story's plot and characters need to align with your personal moral compass to be good? If so your artistic options are sadly limited and you will be deprived of wonderful narratives and songs and books.
The characters work and scheme together, have age appropriate fringe relationships, learn, grow, clearly love one another, run to and from each other, do not have sex, just two young people drawn to each other with a lot of obstacles in their way. A near-perfect film.