If it had been released a year ago (filming began January 2024), it would have been criticized as being too over the top. It isn't a precise mirror of our moment, and I don't think it was intended to be, but it is much more that now than then. I don't think "too over the top" will be what comes to mind when you see it.
There is a missing perspective from the film, deliberate of course. We see the perpetrators of state violence, and those who resist it, but there are no "normies," no politicians, no cable news anchors. There is no sense of "the discourse" around what is happening, no sense of how the rest of the population sees and reacts to what is happening.
The audience in the theater is not told what the audience in the film thinks about things.
Every actor deserves an Oscar.