It’s more restricted than the already-available .movie. array of registrars.
In order to register .film domain names, you must be a member of one of these organizations. You also have to have a close tie to the name(s) you register at the second level.
In other words, no speculating in .Film.
.Film will compete with Donuts’ .Movie, which has about 650 registrations so far without registration restrictions (but at a hefty $300 retail price).