Barbie’s version of “The Nutcracker” is a modern adaptation of E.T.A. Hoffman’s classic Christmas tale. Instead of being an open-ended dream, this is more a musical fantasy adventure.

The unbounded success of Greta Gerwig’s “Barbie” movie this summer followed by the Christmas season’s many stagings of “The Nutcracker,” danced to Tchaikovsky’s 1892 score ...