It's a bit pathetic and borderline creepy at times, but I love pretty much everything about it: the pacing, the shots, the non sequitur acts of weirdness. The uploader on YouTube, morishowta, only has a handful of other videos, and after watching them I get the impression that he's self-aware and that he's being weird and pathetic on purpose. If I were to find out that wasn't the case then that would probably change my opinion of his videos drastically, but as it stands I think they're a queerly beautiful little ode to being an outcast.
Like I said, he only has a few videos so far, and it's well worth it to watch them all. After seeing this one I went to the beginning and watched from there, and in doing so you can see how they start off somewhat normal and then get progressively weirder, which I also think is great. I wish I understood Japanese so I could get the full picture, but I think there's also something to be said for the added sense of foreignness that the language barrier adds to his already-confounding antics. In addition to several iterations of his iPhone-deploying gadget, there are also a couple where he builds grotesque "girlfriends" out of junk, which manage not to come off as creepily as you might assume. :P