In terms of the most cinematically significant found footage films, this one definitely sits near the top of the pile, like The Blair Witch Project and Paranormal Activity. But I'll be honest: I'm not a massive fan of any of those, and seldom rewatch (I've probably seen them twice apiece).

On the other hand, Trollhunter I thought was hilarious, and I've seen that a few times now. Less cinematically significant, but definitely a firm favourite. :)