What kills it ultimately is the pacing.
The original FLCL series had a frenetic pace to it as well. However, that in my opinion worked because I thought it fit within the confines of the world they were trying to create. This feels like the creators trying to replicate the chaos of the original, and it feels forced and manufactured. I applaud the show for trying something unique, and the animation honestly isn't as bad as I thought it was gonna be, but it just isn't as good as it could've been. Better than Progressive, but not as good as Alternative.
The music is as great as always, of course.