It’s got all of the Coppola quirks: the indie soundtrack, the drunken karaoke, and of course, the Chateau Marmont. Actually, that’s “Shellteau” Marmont. See you if you can spot the rest. (Source)It should be noted, this is not meant to disparage Ms. Coppola's work in any way. She's brilliant and amazing. She also has a definable style and that's what is fun to play around with when "predicting" how this live action version of The Little Mermaid could go. If anything, it's a loving homage disguised as a spoof by Funny or Die.
Personally, I think she's going to have more fun with the fantastic aspects and hit the history more, especially because she's not remaking the Disney film (like they are here) but going back to Andersen's version, but this approach would be fun to see as well.
Admit it, you'd watch this too.
By the way, if you like the main song (Kara Leslie, The Strokes cover of "I'll Try Anything Once"), you can hear and download the extended version of it HERE.
I'd kind of love it, if this song was ultimately included in the Coppola soundtrack for the movie.