The start of the clip is a little... odd, but when it comes to advertising a luxury good like alcohol, that's not terribly unusual. We see expensive cars, people dressed in attire unsuitable for the terrain, a few clear beverages passed around and, yeah, the most awesome-looking robot greyhounds you'll ever see, at least until 2115.
It's an extended version of an Absolut Vodka ad and it features everything you might expect from a mechanised dog race set in the future, from the Tron / Minority Report-inspired interfaces (though I have a sneaking suspicion I've seen very similar holographic controls somewhere else) to the elaborately-detailed and alluring chrome chassis of the metallic competitors. There's even a bit of (lightweight) drama mid-way through.
The music isn't the sort of thing I'd listen to unless I was deaf, but in the context of the clip it's not out of place.
Plastic Pals points out the ad might have been influenced by this Syd Mead illustration. Whether or not this is the case, I don't know, but it is a valid comparison.
Image: Absolut Vodka.