I love it. I think it's the best thing that's been put in the internet this year.
It takes a bad song and just makes it so glaringly obvious how bad it really is that it's funny- nay, hilarious. And I think that Alanis is making as much fun of herself as she is Fergie and the BEP.
As soon as I get home I'm gonna watch it again. I mean, dude. At the end? With the pillow thing? Beautiful

And Alanis is looking hot, too.