The vid is, IMO, excellent.
When I heard about it, I immediately thought of Rebecca Black, Friday. That got up somewhere around 300 million YouTube hits I believe. But that was just a dog's breakfast. It was a train wreck. You didn't know what you were seeing. Was it really that bad, or it was intentionally bad to satirize other bad stuff? What is going on here?
But then it turned out it was just bad. True, it was bad in an unusual way - but ultimately, bad.
But Gangnam Style knows exactly what it is doing and does it exceptionally well. It has style and humor. It may not be something I want to listen to every day for the rest of my life but I can appreciate when someone is really good at what they are doing. This is that.
And fancy.