Metaphorically, it depicts the Hinduism philosophy of enlightenment.
Christof (Ed Harris) and his team is a metaphor for Gods who created and manage the world in which Jim Carrey live. (In Hinduism, there're so many Gods.) Christof and his team puts Truman in the fake world created by them from his birth, which is exactly metaphor for God giving our soul a birth with the human body. (In Hinduism, the human body is considered to be a fortunate to have because it's the only living organism that has ability to do extraordinary things with its greater senses. Humans got mind to think and two hands and legs to execute it. Humans can make choices. No other animals have that.)
All the activities and actions of Truman are being recorded and being watched, which metaphorically says that all our Karma are being recorded and watched by the God.
Truman Burbank (Jim Carrey) is a metaphor for an ordinary person like all of us. Lauren Garland (Natascha McElHone) is a metaphor for a Guru who knows this world, who explains us that this world is not real. First it's hard to believe. Then you doubt it. Then you look for the answers and Guru is there to help you through. It's a very tough journey. You get so many callbacks not to do that. You get tired and you must stay strong for the enlightenment of your soul. All the people of the fake world tries to stop you or just wants you to stay there. They all are worldly hurdles. There's an ocean to cross which is a metaphor for all the hurdles of our mind. Once we set up our mind, the ocean is no more a hurdle. Even when you are just about to be enlightened, you are reminded of this fake world, all its pleasure, its people with whom you've relation. Even at the final stage of enlightenment, you are manipulated to stay in this fake world, to enjoy worldly pleasures and possessions. Upon realisation that this world is fake, you no longer engage with it and only thrive to liberate your soul from it.
Christof loves Truman. Yeah, God loves all of us. Jai Siyaram.