The Wave (Bølgen) is a decent movie. The plot was interesting, there were moments that had me biting my nails in true suspense, and I liked all of the characters and performances.
The Wave is a foreign film that comes from Norway. Outside of Dead Snow, I have not watched any other Norwegian films that I know of, but the two Norwegian films I have seen, Dead Snow and The Wave, are both solid films. Prior to watching The Wave, I read a few reviews that called the movie, "The best disaster film of all time."
The Wave was good, but I don't know about that whole best-disaster-movie business. I think when people say stuff like that they tend to neglect the experience of past movies. Do I want to watch Twister right now? Not really, but Twister, when it came out, was a super fun disaster flick. Would I rather watch The Wave again right now, instead of Twister? Sure. However, I'd much rather relive the experience of seeing Twister when it first came to theaters than I would The Wave.
I guess at the end of the day, it also depends on how one defines a disaster film. I would consider The Road some sort of disaster film. Some people group some alien-invasion movies in with the disaster genre, so who knows really? Personally, I really enjoyed the wave, but I wouldn't call it "The best disaster movie ever."
Nonetheless, it's definitely up there when we get down to a more precise environmental-disaster movie. The Wave is undoubtedly a higher quality film than San Andreas, but The Wave is not attempting to compete with a big-Hollywood-summer-CGI fest.
The Wave was released on Netflix streaming a few weeks ago.