He isn't funny, but at least he can't make up his mind about racism. Like Margaret Cho he zooms from "White people treat Asians terribly" to "Here's how my mom talks HONG BONG CHONG!"
I guess the iPod represents something but who the hell knows what.
Maybe he's pointing out that the black iPod is retarded for thinking that his seperate but equal housing is somehow a slight against his color? Maybe he's pointing out that the uppity black iPod is complaining that his dock isn't nice enough while not realizing that there's not EVEN a yellow iPod dock. No matter how you interpret this one, it's a jab against blacks.