Tag, like As The Gods Will, is and out there horror film featuring a large bit of gore. Both are about high school students. At some points, As The Gods Will feels like a fever dream while pretty much the whole of Tag feels like a fever dream.
The ending in particular reminds me of Tag and 1899. The characters are stuck in a looping simulation until they wake up. But also, white bear from black mirror is also similar because of the memory loss and looping scenario.
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