Yes, stripped of its context, it's beautiful in its absurdity. It's like Bob the Enzyte guy meets Lawrence Welk on a Moscow soundstage.
Better still, I like to think of Khil as the "Soviet Heino." (Fans of German music will recognize this name; those who don't should go immediately to YouTube and watch virtually any rendition of his "Blau blüht der Enzian".)
EDIT: To save you guys a search step, here's some classic Heino (via YouTube).