It’s one of my favorite Scorsese films. Here’s an O.G. review of the film by Roger Ebert from December 1, 1974, with this passage which I feel kinda nails it:
The movie has been both attacked and defended on feminist grounds, but I think it belongs somewhere outside ideology, maybe in the area of contemporary myth and romance. There are scenes in which we take Alice and her journey perfectly seriously, there are scenes of harrowing reality and then there are other scenes (including some hilarious passages in a restaurant where she waits on tables) where Scorsese edges into slight, cheerful exaggeration. There are times, indeed, when the movie seems less about Alice than it does about the speculations and daydreams of a lot of women about her age, who identify with the liberation of other women, but are unsure on the subject of themselves.
Ellen Burstyn won the Academy Award for Best Actress. Diane Ladd was nominated for the Academy Award for Best Supporting Actress but lost to Ingrid Bergman in Murder on the Orient Express, and Robert Getchell was nominated for the Academy Award For Best Original Screenplay but lost to Robert Towne for Chinatown.