Crap or Genius?

Found this on the Pentagram blog.

It's a promo postcard for the D&AD student awards.

Now I'm no typographer but is that really the best they could do?

It's Pentagram for goodness sake! Not to mention it was designed by Domenic Lippa.

Or could it be that this oddly typeset piece is so clever that an over opinionated copywriter like myself can't see its genius?

Who knows! What do you think dear reader?