I love familiar songs getting reinterpreted. Remix, cover, mashup, whatever this is... Say what you want, but I like the difference in the sound.
For me it sounds like blasphemy. I graduated in '93, and Cobain managed to hit on a very specific and prevalent feeling with this song and others. IMO it was not yet settled whether or not everyone's (or no one's) feelings should or would matter, and Kurt was putting a point on it. Here's some contemporary comedy on the matter: To me, to hear Smells Like Teen Spirit uplifting and sanitized feels like erasing history. But it's all about context.
I think it's one thing to appreciate the meaning of the song, and another — to appreciate the sound of it. Both are definitely not impossible. I can see why you don't like it because of the distorted meaning, but it doesn't make me not want to hear the sound.