Yes it's cringe, it's intentionally cringe. The ad (for those critics who didn't watch it) actually shows someone walking out, because the presenter is portrayed as being so bad. The generation this is aimed at knows that ads are trying to manipulate them, not entertain them. So I think the people who made the ad knew what they're doing. But comedy is hard, and having a punch line that lasts this long is tough to manage.
It needs an edit. It seems they made it intentionally long to make the video audience squirm, the way the audience of actors is squirming, but I still think it could have lost a minute. There were gags we saw twice that we didn't need to see twice. But I figure they knew that, so I'm not sure what they were going for exactly.
A lot of ads have a character that stands in for the customer. In this case, it's the audience of bored looking students. But they never seem convinced, and only seem to applaud at the end because of the weirdly tacked on "emotional" moment, not because they've been convinced to make a presentation for their parents.
It has funny moments but I think it's trying too hard to be inauthentic in order to inspire an ironic vibe that they (I assume) hope would make the ad go viral. But I'm not the generation this is aimed at, and I'd wager that few in this forum are.