Lauritz could probably do a better job, but basically the kid deliberately took a Bach classic and distorted it into a slapstick comedy piece. It's a little funny that he did this in the hopes of getting his degree. It's not really that interesting unless you jerk off to that kind of stuff.
According to the youtube writeup the composer did it as sort of a protest against his teachers insistence that he compose in a "contemporary" style. That is: atonal, soulless crap. He points out that this modern style they love so much came about as a reaction to the pre-20th century focus on rehashing the classical styles of the past over and over, and that by refusing to rehash his teacher's modern styles he was doing more to continue that tradition than they ever did.