Your question is perfect, because I thought and thought and I really can't figure out the target for this ad. Adults would never eat a cereal that lacerates the roof of their mouth and is almost pure sugar, but kids wouldn't like the style or "jokes" in it. Teenagers maybe? I don't know much about kids these days. I hope I'm wrong.
It does look like a clip from some painfully mediocre series that would air on whatever they call that channel, Teletoon, that would come on the air and exit it without anyone noticing.