O. My. God. ..
It features Vodka, Balalaikas, drunken people wearing шапки-ушанки и шубы, dancing and clothing supposed to be typically russian, taiga, snow, a generic military guy, a tank and even a medved (tm). And a very cute singer IMHO.
SO HOW COULD ONE NOT LIKE IT?

I'm listening to it for the 5th time now and it still gets better. I suppose I am pretty easy to entertain.

To be seriously, for me as a russian (or at least a half-russian) it doesn't seem offensive in no way. During my life in Europe i've never met a person who was thinking of Russia in 'that way'. People drinking much alcohol, a ruined economy/military - yes, sometimes; but kasachok, balaika and polar bears roaming city streets and taking samowars with vodka away from children.. Come on, it's stuff from/for jokes, you will need time to find a person who would be thinking that even a little bit seriously.