Dammit Hipsters, Get Off My Lawn

I'm not entirely sure what to make of this video, because I can't tell if they're being serious, funny, or trying to invoke some deep level of irony that I, in my simple ways, cannot comprehend. Might help if I could understand the lyrics, but they're quite incomprehensible. I'm led to understand that the cooked up corpse of Kevin Bacon is somehow involved...