Like most of this stuff, it's obviously impressive technology compared to what existed a few years ago. But the end product has zero artistic value. It's a grey goo of the average of every concept picked up from the concept of the song. A talented creative with a vision could make something more interesting and enjoyable in an afternoon with a $0 budget.
And this is the bear case on AI. Sure, if the quality of the output is largely meaningless or binary, e.g. it works or it doesn’t, then AI is useful, but as soon as subjective judgement or taste is involved it is useless.