Ryan McSwain’s review published on Letterboxd:
Heads up, this is packaged as a horror movie, maybe a slasher, but it’s more of a psychological thriller.
I recently watched Dogra Magra, a Japanese slow burn where almost every scene could be a dream. That movie was challenging and engaging, while Deadly Dreams felt like someone saying, “Thank goodness it was only a dream!” at the beginning of every scene for a solid 79 minutes. You can get away with that once or twice in a horror movie, but we’re talking dozens of dreams, each one a more obvious cheat than the one before.
Which is too bad, because the performances were convincing, from the poor kid losing his grip on reality to the multitude of betrayals. And the wolf mask was legitimately cool, better than a dozen spray-painted Shatner masks. Everything ranged from passable to pretty great, with the exception of the writing, which really just needed a decent edit.
This movie deserves a spot in a “Top 10 1980s Horror Movie Masks” list, and the poster art has that synthwave vibe I'm into. I’d give everyone involved another chance at bat, because they all showed promise, but I won't be recommending Deadly Dreams anytime soon.