Can't agree with you on that one. Though I do think the film has its moments, it always came across as in general quite flat and rather meandering; not well-thought-out on any level. That last would normally be surprising, considering Charles Beaumont, usually a fine writer on or off the screen, did the scripting... except that Beaumont never much cared for HPL's work to begin with, and undertook this one reluctantly; and I'd say it unfortunately shows.
For all their flaws (and yes, they certainly have their share) Re-animator and (especially) Dagon show a strong understanding of HPL's work and a desire to be faithful to the spirit without slavishly copying Lovecraft's text. There are plenty of elements I'm sure he would not have liked; but I see a good deal more genuine respect for the man's writing in these than in the majority of professional films "based" upon his work.