I'm actually going to call it on this one and say that in 10-15 years or so this will be considered a classic holiday film. Pretty much to Christmas what Hocus Pocus is to Halloween. In fact it's notable that lots of the criticism of Hocus Pocus back in the 90s is very similar to what Nutcracker got ("How could ***** do THAT? What a waste of their talent", "It's a (ill-defined) mess!".
It was always going to have an impossible task audience wise. Disney virtually abandoned it, it was in a terrible release date and there was clearly little confidence in it. It's just too bold for people to know what to do with - everything people SAY they want, but actually run a mile when they get it unless it's timed absolutely perfectly.
But it's actually a rather audacious, innovative, excellent film. Genuinely.
I have a pretty good track record with this having said similar at the time about Labyrinth, Neverending Story, Event Horizon and the aforementioned Hocus Pocus. The only one I'm still trying to get people to reconsider and have never seen much of a perception shift on is Mystery Men.