I watched The Babadook after reading all the fantastic reviews it had. It was ok but for me, as a horror film it wasn't scary at all. It veers more towards the psychological side of things rather than monster and deals with the relationship between mother and son.
I agree, except I found the Babadook portions scary, but I'm weak to anything scary in general. IMO, the movie is longer than it needed to be. Most of the first half could have been condensed and made into a more streamlined experience.