From Wikipedia >
"Upon release in 1979, director Stanley Kubrick, who is mentioned in the movie, reportedly called it "[the] best film I think I have ever seen". In 2001, All That Jazz was deemed "culturally, historically, or aesthetically significant" by the Library of Congress and selected for preservation in the National Film Registry. It was also preserved by the Academy Film Archive in the same year. In 2006, the film was ranked #14 by the American Film Institute on its list of the Greatest Movie Musicals.
The film would be the last musical nominated for the Academy Award for Best Picture until Disney's (animated) Beauty and the Beast in 1991, and was the last live-action musical to compete in the category until Baz Luhrmann's Moulin Rouge! was nominated over twenty years later"
Who am I to argue with Stanley Kubrick? The 13 film musicals rated above it by AFI were certainly all less Avante Garde & much stodgier.
Bob Fosse was quite literally the American Shakespeare of Dance & related music. If you haven't seen it you really have no idea whatsoever what you're missing (on as big a screen as possible). The transcendental ending actually rivals the ending of 2001 A Space Odyssey, in its way - hence (in part) Kubrick's praise. Just like 2001, no one's ever, even tried to copy it. It's that fabulously good & original.