Saw this live on TV late in the night. Thought my television was broken then felt like I was going insane. At first I didn't realize it kept repeating, I wasn't fully paying attention, and then the video got so weird so fast. I forgot about it until the next morning and concluded it must have been a prank. Not too far off.
It's a parody of an 70s-80s sitcom intro such as full house or Brady bunch. It goes on for longer than you think, continually playing the theme song as more characters are introduced and slowly the whole thing devolves into surrealism.