hm, I actually quite liked it. it took a bit to grow on me, just because the original song is already pretty NIN-ish (come on, its even got a "hands and knees" lyric), so I think I was expecting something a bit more obvious.
that said, I appreciate the amount of U2 now in Reznor's arsenal: Saul Williams, that excellent Vertigo remix he did years ago, and now this