They say beauty is in the eye of the beholder—but what does that say about the beholder? In an exploration of this year’s Best Picture, The Shape of Water, Derek & Laurel examine its structural similarities to the tale as old as time, Beauty & the Beast. Aesthetic philosophy, Enlightenment politics, and civil unrest all find their way into the discussion as we try to understand what makes a fairy tale for our troubled times. Come on in, the water’s fine.