It does that "unknowable incomprehensible horrors lurking just beyond the bounds of what we know" atmosphere beautifullyI feel like The Magnus Archives is one of the best lovecraftian style works to come out in ages. I'm about 8 episodes in.
Angler Fish works really well as a first episode and primer for the series. Short and sweet and just enough details to let you imagine things but not enough to lose the sense of creepiness. It instantly presents this sense of a normal world where unknowable and insidious things lurk just in the shadows off main street. The setting isn't some creepy house or some haunting or an isolated cabin. It's a city street corner and some guy walking home. If you're not safe there, if something like this could happen in such an innocuous place during such an everyday moment...what else could be out there?
Magnus Archives sets the foundation with episode one.