I watched this movie some days ago and it's really messed up. VC did an analysis about it as well. The way they talk about the subject is in a way that glamourizes and makes some themes aesthetic. You can see it to take your own conclusions, but if you want something more clarifying about industry, its better to watch something else.
It doesn't expose anything. It's symbolic, not a documentary. There is not actual cannibalism going on in the modeling industry. Having said that it's worth a watch, it's not Refn's best film but it is interesting.