First of alll, it's JonRon Tolkien writing a time travel novel, which just on it's face is kind of nuts to think about. Second of all, both it and the associated Notion Club Papers are him doing a bit of self-parody and critique of Oxford don culture (which is SUPER nuts for him to be doing.)
Tolkien is rarely thought of as a modernist author, and I think justly so, but Lost Road..... complicates that. Dreams blending with reality, not so much nightmarish as just profoundly unsettling? this ostensible millenia-long family chain only consists of families that are a father and one son? This 15-year-old boy is self-taught in Latin, Greek, Old English, Old Norse, Welsh and Irish, loves the taste and savor of words and language, but struggles to describe his feelings? the Island of Numenor is in a brewing civil war? Oppressive state powers? Wait is Sauron meant to be like a dictatorial figure here, arresting dissenters? When was this written..... oh 1936 huh?