The film meticulously builds tension by hiding the true nature of the threat. Initially, the strange events (loss of cell service, maps disappearing, the UFO drone) suggest a sci-fi mystery or government conspiracy. The twist reveals that a group of wealthy, sociopathic Western tourists, led by Michael (Udo Kier), have paid corrupt mayor Tony Jr. to isolate the town so they can hunt the residents for sport, scoring points for each kill.
However, the true subversion of the film is that Bacurau is not a helpless victim. The villagers are descendants of rebels and outlaws; they take a psychotropic communal drug to prepare for battle, unlock their history-filled museum, and arm themselves with vintage weapons. In the climax, the villagers brutally ambush and slaughter the hunters one by one.
Michael is captured alive, mockingly judged by the town, and buried alive in an underground cell. The mayor is tied naked to a donkey and banished. The ending recontextualizes the entire film: the hunters walked into a trap set by history itself, realizing too late that the town's bloody past was merely sleeping.