Ed Saxberger, portrayed by Willem Dafoe, is a post office employee who dwells in obscurity in downtown Manhattan, where he relocated from Pennsylvania half a century ago to immerse himself in the bohemian art scene. His daily existence revolves around his mundane job and playing pool with his working-class friends at a local bar. Despite receiving persistent calls from his sister, who updates him on their brother’s deteriorating health and urges him to visit, Ed chooses to listen to her voicemails instead of responding.
One day, Ed's life takes an unexpected turn when he is approached by Meyers, a wealthy and somewhat pretentious NYU graduate who has become an ardent fan of Ed after discovering his poetry collection, Way Past Go, published in the late 1970s. Meyers enthusiastically informs Ed about "The Enthusiasm Society," a group of young affluent writers he claims to lead, who have all become enamored with Ed's work. Flattered and intrigued by the attention, Ed agrees to meet with the society, where he is introduced as "Saxberger."
As Ed interacts with the society, he finds himself captivated by the admiration he receives, particularly from the flirtatious actress Gloria, played by Greta Lee. The group is buzzing with excitement as they prepare for a reading, and under Meyers' persuasion, Ed reluctantly agrees to write a new poem to be recited by Gloria as the highlight of the evening. However, his enthusiasm wavers when he realizes that a meeting with a literary agent is focused on publishing a memoir rather than reviving his earlier works.
Amidst this chaos, Ed contends with a severe case of writer's block while still ignoring his sister's phone calls. He decides to gift Arnold, one of his bar friends, a copy of Way Past Go for his birthday. However, when Arnold and the others tease him about his past as a poet, Ed's temper flares and he storms out of the bar. Subsequently, he starts spending more time with the Enthusiasm Society. One evening, Gloria unexpectedly visits his apartment, pretending to be his girlfriend during Arnold's apology visit, which leads to a complex mix of relationships.
Their bond deepens when Gloria takes Ed out for a night of mushrooms and exploration around SoHo, culminating in a kiss at a park. The night highlights Ed's internal struggle, and just before the reading, he confesses to the Enthusiasm Society that he hasn’t penned a single line of his promised poem. In a panic, the group resolves to perform one of Ed's previous works instead. A confrontation ensues when Ed visits Gloria unannounced, only to find her distressed and caught in a disagreement with another man, compelling him to leave after offering her a copy of his poetry.
On the day of the reading, the atmosphere is tense as the Enthusiasm Society awaits Gloria's arrival. When she finally does, she adopts a glamorous, drug-influenced persona and delivers a performance that steals the spotlight. As Ed prepares to read, he finds Gloria incapacitated, which forces him to present his piece himself. He delivers a heartfelt poem reflecting on his experiences in New York City and his unreciprocated feelings that mirror the emotions he has navigated over the past few weeks. The audience responds positively, and the society members celebrate Ed's newfound recognition.
However, after the reading, Gloria reluctantly informs Ed that she is departing to take on a role in The Winter’s Tale in Minneapolis, leaving him troubled. Back at home, Ed receives heart-wrenching news from his sister that their brother has passed away, compounding his sense of loss.
Subsequently, the Enthusiasm Society reads reviews of their performance, most of which are unfavorable except for the praise directed at Ed and Gloria's contributions. This leads to escalating tensions as they discover that Meyers manipulated the reviews to project an image of success. In the aftermath, Ed feels alienated and chooses to leave only to encounter Winn, the youngest member. Winn seeks feedback on his own work and expresses admiration for Ed's influence, revealing that he and the others had never actually read Way Past Go.
Ed imparts wisdom to Winn about self-worth in relation to external validation, leading to a conversation about the fading authenticity of their initial enthusiasm. Ed volunteers to read Winn's writing once he gets a chance to digest his own. As he steps into the bar to immerse himself in a familiar game of pool, Ed faces the crossroads of his existence, caught between the allure of newfound fame and the weight of his past.
