A lot of the films recently that I have rewatched or broken down in structure have boiled down to a simple change, a key movement from one thing to another. That's the story.
In Close Encounters it's from normalcy into radical exploration.
In Whiplash it's from childhood/dreams/dad to manhood/actualization/drumming full tilt.
In Nacho Libre, a phenomenal film if you ever wondered, it's from the rigidity of the church to the freedom of being you, a wrestler who is churchy in his own way.

(The first time I saw this film was by accident, by the way. It was playing on an airplane I was on. It looked cheesy to me or perhaps too slapstick. I watched because I legally had to stay in my seat. I ended up laughing so hard and I got worried the stranger next to me would reach her limit with my elbow bumping and shaking laughter. It has sense become one of my favorite films. The colors, the sentiment, the story, all so good.)
Regarding the structure, it's simple when viewing in the above mentioned perspective.

The story is kicked off upon Nacho, an unhappy, bullied, heart of gold, orphan-caring monk spotting a wrestling poster. Inspiration hits him. Let's do this. He recruits his fight-over-the-orphans'-chips-mate and they prep.
Act 1 wraps as the main question of the film is established and we set off to pursue it--can we be legit wrestlers? We had our first fight and made some money. That's a start.
The journey of fighting and improving as a wrestler continues. We have an amazing eagle egg magical powers scene, etc.
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The midpoint to me is a fight montage, a declaration of wanting to win and "go pro," and a new goal of getting to Ramses.
Nacho's actions though from here not only get him distanced from and humiliated by Ramses, but they also cause him to fall behind on his duties at the monastery.
Then he loses his big-opportunity fight, his chance to advance to the pro level and to challenge Ramses himself in the ring. He gets second place in a winner takes all event. Brutal defeat.
At the end of Act 2 we find Nacho as a failed wrestler who is ejected from/leaves his monastery disgraced (maybe the best scene in the film), and sets out to the wilderness to live or die alone.

Act 3 begins with the news that a technicality has deemed Nacho the winner of his big-opportunity fight. He writes an impassioned love letter to his forbidden dream girl at the monetary, Sister Encarnación, and sets out to challenge Ramses at the pro level.
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He takes on his once-was-idol, but Ramses is powerful and levels Nacho. Flat on his back, he sees Sister Encarnación enter the arena with the orphans, all there to support him, embrace him, allow him to be a wrestler who fights for good, to support him in the freedom of being himself, a wrestler who is churchy in his own way.

This support fills Nacho. He powers up (eagle egg powers) and defeats Ramses.
The film ends with Nacho, Encarnación, and the orphans on a happy field trip. Success.
Nacho answers the question of can he be a legit wrestler. We also settle the issues created while trying to answwr this question: his issues whith fitting into a rigid religious system.
A new "normal" is created.
Power to you :-)
(These are my own personal, current story structure theories. I do not claim them as the intentions of the filmmakers.)