This is a tricky one.
None of the characters are particularly sympathetic, and there's no one to really root for--they are their own worst enemies. I certainly couldn't identify with any of them, and I hope not many people would!
The device of having each chapter be from another character's perspective (and jumping around in time, no less) makes the story seem more significant/complex than it is. I think that if the story had been told in straight linear time, with a third-person omniscient narrator, or even in the first person voice that appears at the very end of the book, its flaws would be more apparent.
The men and boys don't come off very well in this one, do they? All but one of the main male characters are philanderers/emotional abusers, and 2 of them are murderers. Then again, the 3 women aren't much better: we have 2 adulterers, one of whom is also an addict; and the women generally do nothing but compete against each other in various ways. The book passes the Bechdel test, but that's not saying much for this one.
I would probably recommend this melodrama to people who liked The Great Gatsby. The only thing it lacked was an illicit pregnancy.