Dan Webster of The Spokesman-Review commented in August 1997 that Dream with the Fishes is "a perfect example of the kind of personal film that won’t necessarily connect with a larger audience."

"[9] Dennis Harvey of Variety labelled it a "a flat-out imitation of some more adventurous strains in ’70s U.S. cinema", noting that the film "ends up looking wholly original in the current indie landscape" because of this.

The book states that, "Dream with the Fishes pays homage to '70s films like Dealing (1971), The Last Detail (1973) and California Split (1974), with unapologetic substance abuse, retro costumes, and characters who drop out of the mainstream on their way to enlightenment."

The book further added that, "Taylor gives the picture a stark and distinctive visual style and the film stock itself was processed to further imitate the grainy, color-saturated look of '70s cinema.

"[11] In a 2007 interview, actor David Arquette stated that Dream with the Fishes was "close to my heart" and "a great independent film.