"Don’t Look Up" is easily one of Adam McKay’s most topical, and important, films to date. It is also one of his most entertaining and, quite possibly, best as well.

A high-school wrestling comedy with perennial indie schlub Paul Giamatti coaching sounds like it could be an unbearable retread of recent bombs like Mr. Woodcock or Drillbit Taylor, but with a surefire ensemble cast and a trick...