I should've said "Science Fiction Fantasy".
Only if the sci-fi lacks credibility. Breaking the light barrier is credible, by going around it, so to speak - manipulating space itself. It's feasible in theory, and I suppose that would also break the time barrier although nobody I know of has mentioned how yet.
But this 2002 Time Machine movie is going too far. Some time in the 21st century the moon was shattered by a nuke. Eventually the human race, in attempting to survive without a moon (why would this be so difficult?) split off into two new races, the tech-savvy, tough Morlock, who live underground, and the simple-minded, weak Eloi who live above-ground. In the movie this division was created by some kind of breeding program. So now we have a third species, those who control? That's the explanation for a society existing in the year 800,000 or so provided by this movie.
The book was far, far more believable. In the book version, the two races are the natural product of human social structure: Rich, and poor. Wells says nothing about a middle class, but it was published in 1895 England after all, where there was basically the super-wealthy aristocrat class and the working class. Or at least that's how Wells apparently viewed his society.
The Eloi are the evolutionary product of trivial wealth and a comfortable lifestyle consisting primarily of those who only consume the products of the working class, while the Morlock evolved from the working class, consisting of those who produce. The Morlock also use the Eloi as food. So in the long run, the tables have turned. The consumers have become the consumed.
That's a great irony produced by an author of great classic novels. Too bad Hollywood can't even begin to compete.