No, this is not a fever dream. It is a very strange music video/ad for Meow Mix, featuring a bunch of cats partying like crazy to EDM and also an exploding disco ball that rains morsels of kibble down upon the dance club. I cannot stress enough how utterly bananas it is.
According to AdWeek, Meow Mix is producing a whole series of remixes to its original jingle. This utterly puzzling incarnation, which is basically a vision you'd have at an opium den that was also a cat cafe, is the work of DJ Ashworth and the ad agency FCB. If you're feeling inspired, they're also running a contest for best amateur rendition of the Meow Mix song sung to a cat. (Enter at your own risk.)
As for why? Some mysteries are too vast for the fragile human mind to contemplate.