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There's an interesting play between rum, vermouth and grapefruit which, with the right grapefruit, can be delicious. (Juice ripe pink or red grapefruit.)
I can confirm that the quality of the grapefruit juice has a disproportionate influence on the overall experience (mine was definitely subpar). I also think a mid-range rum in terms of assertiveness is probably optimal. Mine was a bit too quiet and didn't register, but an overly funky spirit would throw this drink completely out of balance.