This video contains a lot of NSFW language and Not Safe for Sanity imagery. It's also apparently not done yet, as illustrated by the watermarks that haven't been removed from some of the pictures.
Keep in mind the single was actually released for sale back in October. It seems to be taking them a while to finish the damn thing.
Personally, I think it's brilliant. I love the return to videos being more like miniature--and often controversial--movies. I also really love Kanye's music, though. When I made some friends watch it one of them actually walked out of the room in disgust and another one got a glazed look to his eyes, so I guess my love isn't universal.