Yes this is cringe worthy for any Springsteen fan, but you do have to give ApologetiX (the group behind the parody) credit for a pretty spot on vocal sync.
Not that it necessarily redeems the situation, but it certainly makes it more entertaining than a guy with a guitar sitting in his basement in front of his webcam.
UPDATE: Apparently, the original video got busted for copyright infringement. So, we’ve replaced it with a live version of the song. Not quite as good, but still entertaining.