Yes, while playing with form or genre can be a risky endeavor, if done correctly it can create beautiful art pieces in many unique ways. For instance, in the movie cars 2, there is a mysterious bad guy who is sabotaging the races. Nearing the end of the movie it is revealed through the plot that the real enemy was someone who was supposed to be good. The guy who organized the race and all the events surrounding the event was the real bad guy and had a cover up. It is a real twist in what the audience thinks is the script, and really throws a curve ball to the viewers. It was very successful due to the respect it had, the creativity of it, and done very strategically.
Cars 2 is a great example for successful playing with form. The writers I believe were well versed in the genres they danced in. They also in my opinion made a movie that is respectful to the original and the genres.