And then there's the (slightly) greater context. Again, this surface - like most un- or semi-sanctioned street art canvases - is continually evolving. Some 'vandalizing' Banksy's attention-getting 'vandalism'; a Bronx record label making use of the attention; someone calling on (challenging?) Banksy to make use of his newly declared accent to use the megaphone of the attention to, you know, come out and say something; another stencil down left wondering out loud if the emperor's wardrobe is really all that impressive. This could go on for a while.
What do you think? Important urban art? Commentary on the Gallery District/the Great New York Art Scene (now polished and sanitized for your protection and convenience!)? A damn squit?
Look closer. And keep looking - we should be getting more of these all month all over the city.