Demi Moore is boldly exposed as an aging Oscar winner rejected by her producer in a hyperstylized satire that also stars Margaret Qualley and Dennis Quaid.

Finally, “The Substance” is very much a woman’s movie. The way writer-director Coralie Fargeat presents Demi Moore and Margaret Qualley — the matter-of-fact way in which she films their bodies, and the trust that she elicits from them — has the unmistakable stamp of a woman director. This is obvious within minutes.