I like the Kevin Butler ads a lot - they're always funny. I don't think they're good as actual advertisements though; this one's quite complex (only avid gamers - the sort who have already made up their minds - are going to understand the first 60 seconds) and there's hardly any product palcement (well over a minute before it's clear it's a PlayStation ad, and almost 75 seconds before you see an actual product).
The PlayStation logo is at the bottom of the ad the entire time
I DO agree that it's still vague in ways. Usually KB ads get to the point, but since this one is re-introducing him to the market, they added the rest for the fans/userbase. They need to address non-fans/owners as well.