Terry O’Reilly talks often about the implicit agreement that exists in advertising: viewing an ad is payment for entertainment. Put another way, advertisers are responsible for entertaining the audience they advertise to.
H2Oh! shows that they understand this reciprocation in this ad. This is the kind of work that the audience will actively seeks out. It’s unfortunate that we rarely see this much effort put into entertainment outside of the Superbowl.
One last thought: notice that you’re not hit over the head with the product placement. The soda makes subtle appearances throughout the spot, and each one feels natural.