I find it especially offensive to women and feminists in the developer community.
People watching it and saying, "OMG what a crap song, and such old-school dance moves. Don't they know developers are too cool for this?", as if that is what the problem is, just show how big the real problem is.
Watching this (as a woman) I actually felt more embarrassed for my male colleague sitting here with me - he knew how stupid and misogynist it is. If anything I was rather impressed they thought it so considerate to add 'vagina' to what was an already absurd line.