JVC's 1981 Effects Demo "Time Rider - Computer Dreaming" is Trippy/Painful/Awesome?

This JVC effects demo is chockablock with just about every possible cheesy video effect you could think of in 1981. The end result is video that at almost 4 minutes has been described as difficult to watch by some and work of art by nearly no one. Which I do not understand if this is so hard to watch, why I have I watched it 4 times in a row already this morning? It cannot just be the music and sound, visually this thing is interesting with a capital I.

Based on comments I have seen online about it, I think people are judging this video a bit too harshly through the lens of history, but you be the judge.