As the cinematic sensibilities and level of appreciation got significantly improved these days, movies like Mayilppeelikkavu deserve to be approached from an angle that is more tolerant than critical. Many might say that Mayilppeelikkavu could be a lot better had the makers were better informed about the art of film making. But all these worries can take the back seat for some time. Let's discuss what a modern viewer can dig out from a psychological thriller like Mayilppeelikkavu.
The movie is strongly based on the strength of myths and their ability or rather the ability of people to manipulate them for gaining their ends. Valyathan could be approached as an ambitious old man who afraid of losing the wealth of the Kovilakom, is devising an ingenious plan to get rid of the heiress Gayathri. At the same time it is highly unlikely that he did not believe in the myths and magic so as to leave someone who looks exactly like Kuttimalu unscathed.i.e., Valyathan could indeed have believed that Gayathri was the reincarnated Kuttimalu, therefore, a threat to his life. There is one more reason for this. We know that Vallyathan had an unfulfilled love life in connection with Kuttimalu and that he, although insanely, had loved her. So when Gayathri came back he must have awoken the sleeping lover who could not get Kuttimalu. (Remember, Valyathan's last words were: "Kuttimalu" suggesting that he madly loved her). After considering the above obervations, no viewer would be able to say that Manu is Krishnanunni and Gayathri is Kuttimani in the sense of reincarnation. The movie is clearly on the side of science asking viewers to shake off the vestiges of superstition which, as in the past can still wreck havoc in human lives. It seems that the movie wants to tell us that myths gain power only after we start believing in them. In other words, the imagined reality (as that of the dreams of Kuttimani and Manu) if believed has the potential to become objective reality. The choice is ours.