This is a really cute little "show", with a bunch of friends just enjoying themselves and having a laugh, possibly* while high.
The fact that these guys went on to work on Community and create Rick and Morty shows that in this day and age, studying media and theory isn't as important as just getting out there and making something, regardless of budget. We forget that props and special effects are mere symbols - evolved from stage-shows and plays - to help us understand the story, we don't need flashy big budget special effects to help us understand what is going on. In recent years, the salad dressing has become more important than the meal.
It's funny and bizarre, and the perfect running length. Reminds me of the pilot for "It's Always Sunny in Philadelphia", and their Lethal Weapon sequels, with a sort of Swede / Be Kind / Rewind vibe.
*Possibly = definitely.
Also Sarah Silverman.
