It is a good commercial because it has caused all of you to talk about the ad and about Cadillac. That is a huge success for any advertiser, regardless of what you are saying about the product
Yup:"Ellinghaus, who took over as Cadillac’s global chief marketing officer in January -- after the commercial already was in the works -- said early research suggested “we would break through the clutter and generate a hell of a lot of buzz. Mission accomplished.”"
The interesting thing is that the CMO Ellinghaus, a non-American, was clearly not a fan of the ad when he came onboard, and in fact in an attempt to make it "a little more socially palatable" changed the particular car being advertised to be Cadillac's electric vehicle (he would not reveal what the original vehicle was, but it probably made the ad substantially more anti-mustachian). In a funny twist,
Jalopnik (where I came across the link to the above interview) also dislikes the ad, but their reason is simply that the overpriced crappy car being advertised doesn't match with the hype of the ad!