This film is a Stealth Remake of The Stepford Wives.
The trailer includes a voiceover regarding what is expected of the wives in town, and a shot of one of them with an unsettlingly blank look in her eyes as she performs repetitive movements. There is also plenty of surreal imagery going around regarding the fake-idyllic nature of the town, vague mentions of the "project" the men are working on, and Alice both being hunted down by people in jumpsuits and being the only member of the ballet class moving independently. All of this could be pieced together to follow the plot of The Stepford Wives, making it entirely possible this is an adaptation, although with a changed title to make it feel more like a new story. The story is actually taking place in modern day, and the Wives are real women who have been kidnapped.
The story actually is taking place in modern day. "Project Victory" is actually just a group of rich misogynistic assholes who want to roleplay as 1950's husbands. They kidnap women in order to brainwash them into being the perfect wife for each member.- Confirmed! Victory is a reality simulation and the majority of the wives are not aware of this or there of their own free will.
Frank is deliberately messing with Wives for his own sadistic entertainment.
Both Margaret and Alice are drawn out into the restricted zone when they see something in the desert - a plane crash in Alice's case. Neither had been experiencing hallucinations before that, and it's a bit extended and detailed to be a glitch in the program. Afterward, Alice starts experiencing other things that could be hallucinations or glitches, but could just as easily be someone with control of the virtual world messing with her: the empty eggs and the crushing wall for two. Frank himself admits that he's looking for a challenge, and at the end, when Alice escapes, Shelley murders him and calls him a "Stupid, stupid man." Out of proportion for failing to capture a determined and clever escapee, but not for causing the problem in the first place by toying with women who otherwise would have stayed tranquilized. Bunny had two abortions.
She talks about how she "get[s] to keep [her kids] " in Victory, something which she presumably couldn't do in the real world. The fact that she would be complicit in the abuse of the other wives serves as a comment on how women with complicated feelings about their own abortions often get used as props, willingly or otherwise, in anti-abortion campaigners' attempts to restrict reproductive freedoms across the board. Shelley used to be a critic of Frank.
Frank put her into the simulation both as a test of the conditioning and also for his own pleasure of making a woman who despised him into his doting, loving housewife. Unfortunately for him, she was smart enough to realize it was a simulation, but rather than trying to escape, she decided to bide her time and play up the role, waiting for an opportunity to take over for herself and punish the remaining men in Frank's scheme. Jack used to be a better boyfriend/husband before he was corrupted by Frank
For those who wonder what Alice sees in Jack after we meet Jack's real world self, the simple answer is that he wasn't always like that. At some point he was a decent boyfriend or husband, then he got laid off or suffered some other setback that meant he was stuck at home watching Frank's podcasts all day on his computer. His damaged self-esteem and isolation made him vulnerable to Frank's message, and he was soon won over to Frank's patriarchal beliefs, which was how we was convinced that Alice should cook and clean even though he was home all day and she was working thirty-hour shifts as a surgeon, and ultimately that she was as unhappy as he was in their old lives. This is a common pattern in real life.