I don't think it's Eminem's best work, but I do think that it gets his point across.
After watching it again a few 10x's (

), I've realized that it is a pure-direct hit at Bush. I do not, however, believe that he's saying "Vote for Kerry", just "Don't vote for Bush". I know some aren't gonna see it that way though, but hey.
I think the concept of the video is still old, but I like how it all works together.