Rainbows? Hotdogs? Flashing GIFs?

I came across a list of the 15 Worst Web Sites of 2010 while doing some research at work. Most of them were genuinely terrible, with bad typography, annoying music and unfriendly navigation. But then there was this gem, from the Yale University School of Art:

Trust me, this screenshot doesn't do the animated GIF background justice. You can see it live here: art.yale.edu

I  still can't decide if I love it or hate it.