It's ok, but...
It's just a real real long intro.
The whole song you're just waiting for the climax, but there IS no climax. There's just this endless bass riff. And, of course, the guitar that jumps in at 45 seconds, which also plays an endless riff.
If you would add a climax somewhere, preferrably somewhere around 30 seconds, it would make this a song. And with climax I mean something like a chorus or something.