It's good for what it's meant to be.
Honestly, I don't find anything wrong with something like this. It's silly, and largely harmless.
Yes, we all know that Pico and his friends are capable of fleshing out a deep and some what meaningful story, but that doesn't mean that things like these shorts are simply meant to be written off as soon as they are produced. Some people just don't have enough time to do much of anything besides produce short animations such as this. Even with that being the case, i do feel that the little people inside of his mouth seem poor in quality. It's probably my biggest issue with the whole cartoon.
What I really did like about it was that it had a message, if an obvious one [ to those with the mentality of someone who's actually allowed on newgrounds ], and the message was good. Do something bad, drown it with something worse, and you'll just end up degrading your physical and mental well-being. Which makes it more meaningful than most the shorts that are posted these days.
Meaning or no meaning does not have a direct relevance to quality. Although, it can influence personal tastes, obviously.
Oh, and before I forget, I liked the old time sepia tones that popped up from time to time, as well as the old style of music. It sounds like I'm really listening to it from one of those huge radios.