I found out about this one from horror blogger Stacie Ponder and it is one of my favorites. Arletty, a young woman, comes to an isolated California town looking for her father, who has gone missing. The town's past is coming back in strange and unsettling ways. Arletty teams up with a trio of other outsiders to try and find out what is happening and where Arletty's father is.
If you want something that *feels* like Innsmouth in the 1970s, this is it. There are some jump scares, but most of the movie is mood. It is designed to unsettle rather than to scare. Is it cosmic horror? Maybe. It is definitely Lovecraftian, and it ends with a pretty strong implication that the world as we know it is coming to a close.
Right now, it is available free (with ads) on Tubi. It pops up on Shudder frequently, if you subscribe.