It's great, once you get past the teenage girls freaking out like they know what song this is.
Jensen Ackles is very famous amongst a certain subset of people: Supernatural fans. And this video was filmed at the holiest event for Supernatural fans, a conference called Vancon. Vancon, as near as we can tell, is an entire conference dedicated to the show. Because it's filmed in Vancouver. Get it?
This year is the tenth season of the brothers-hunting-demons/homoerotic-face-punching-fest that is Supernatural, and the cast and crew have probably been a really important part of the Vancouver community in that decade. They love Canada and Canada loves them. They also love classic rock! That's pretty much all that would be on the Supernatural soundtrack, if they made one (please make one!). I imagine it would be called Tunes To Get Your Impala Revving. So anyway, it makes sense that Jensen Ackles would want to celebrate the city and the sound of his show along with its rabid fan base. If you loved him already, watching him play the guitar and croon is a perfect way to spend 5 minutes. If you're just finding out who he is...enjoy your new crush.