I'm not sure that traditional notions of good or bad apply here. This is just a series of shorts celebrating the 45th anniversary of Hello Kitty and the 40th anniversary of Mobile Suit Gundam. The animation is actually much nicer than it ever needed to be, and the production in general is well done. It's not a pure throwaway; effort was spent in making this something special (if extremely bizarre and disorienting).
If you want a few laughs and like the weirdness of the whole notion, give it a look. I like that it's well-executed, has an odd respect for both franchises, and at this point I can't wait to see how things finally end up.
The final question: Will this anime be canon for the Gundam universe?!?!?!?!
