This is Kanye and Jay-Z just having fun. It’s almost like Kanye needed a breather after spilling his soul on My Beautiful Dark Twisted Fantasy and Jay didn’t feeling like conceptualizing something as grand as “Empire State of Mind,” so they got a Lex Luger beat (for you sophisticates, that’s Waka Flocka’s right hand) and blacked out. You can tell Kanye is really enjoying himself as he brings out a casual vulgarity that he usually saves for guest verses (see the “Deuces” remix) and Jay raps faster than the mass audience is used to. It’s great to see rappers this huge throw something cool together without any artistic pontification or market research.
Update: Alternate art via Gimme Noise