I actually don't like vids like this all that much. Sure it helps people (including myself) get some references and wordplay, but it can only do so much for metaphor and everything else. Kinda distracts you with the references by seeing it as only that.
This song is basically having fun with rapping and the child themes throughout it help root it to the album, but overall this is him having fun with words. Sometimes, people take ish too serious lol. It's easy to say he's pretentious in this song, but this is the type of rapping and writing he likes to do. Simple as that.