Let's learn about Harvard kids and their senses of humor! A Harvard tipster sends us the following explanation for the video you see above:

IEvery year, in the lead up to housing day (when the freshmen find out what upperclass House/dorm they'll live in), houses release videos to pump up their house and the freshmen. This is Eliot's attempt at humor this year.

It's unfortunate, though, that the historically rich, white, douchey (even for Harvard) house thought it would be funny to make a video touting their douchiness. Instead it's just sad and pretentious.

By god, that about sums it up. One downside of being the future rulers of America's political and economic fortunes: makes it really hard to pull off jokes in which the premise is, "the idea of us being rich elitists is laughable." Keep trying, though. Not really.