The video is part of the band's Privilege project, which is their new full-length record being released in five parts on limited-edition vinyl. Blood is also involved. The press release explains it all:

Ever the pragmatists, Parenthetical Girls are in the midst of releasing Privilege—the band's new full length—as a box set of five extremely limited 12" EPs on their own Slender Means Society label. These EPs will be sold separately in sequence, each as they are completed. They will not be distributed to stores. As the cycle concludes, the fifth and final 12" will come packaged in a beautiful, aesthetically cohesive LP box designed to house all four of the preceding releases, forming the complete Privilege album. Limited to 500 physical copies per EP, the 12"s will each feature original art by renowned Swedish illustrator Jenny Mörtsell, and will be hand-numbered in the blood of their respective band members. Privilege, pt. II: The Past, Imperfect is now available via mail order