That movie is ripe for porn. Especially Little Red Riding Hood and the Big Bad Wolf. Also lesbians, magic, giants.
Right but it was a play/musical first. Anyway yeah any story that is an amalgam of stories of a genre is ripe for this sort of thing, that is to say a story that blends several seemingly unrelated narratives into an interconnected world forcing them to interact with each other, essential fanfic mass ups.
There are already at least two stories that do this, interestingly both named "Fractured Fairy Tales". I'm a contributor to the one by Tantrikenetic. If you search for fairy tale, you'll find many.