Finished it. My overall thoughts are that it was very good for what it was: an elaborate fan video. If they were going for professional quality, though, I honestly can't say they made it. There was a real over-reliance on gags in flavor of any sort of plot or characterization, and most of the gags were more of "Hey, look, a reference!" rather than the character based humor that drew me to the show in the first place. There were also a
lot of flow issues; there were dozens of shots that lasted just a second or two too long and made it look like someone forgot to move the camera. Some of the gags were dragged out for too long as well. Case in point, the Derpy gag was amusing, but could have easily been edited down to half the time without losing the joke. The ending was a complete
Deus ex Machina.
On the positive side, for the most part the animation was solid, and the brief interactions with the
Powerpuff Girls were honestly the best part of the episode for me because it felt like they were just having fun rather than trying to imitate the show. The music was great, and the voices, while not perfect, were a lot better than I had expected fan voices to be.
TL;DR version: as a fan video it's very impressive, as an
episode I found it lackluster. I'd watch it again, but I honestly wouldn't compare it to any episodes of the actual show.