[edit: the channels do change after a delay]
Aside: I'm sure I've heard it all throughout my life, but it was only a few days ago that I looked up the lyrics and backstory behind this song. For a song written just shy of 50 years ago, it blows my mind how good it is.
http://rock.rapgenius.com/Bob-dylan-like-a-rolling-stone-lyr...
EDIT: OK, so I messed with this some more. It does appear to change channels on its own from time to time, so it doesn't seem possible to see whether they recorded the entire song for each channel. Also, it didn't start me on the food channel this time. Nevertheless, it's not the same each time you do it. I suspect that each channel only contains portions of the song and there are enforced channel changes as a result
It would be really interesting to see how they dealt with the buffering on slower connections, since presumably the video can't prefetch too much ahead as the channel is likely to change regularly.
They didn't, changing channels or even leaving it playing is awfully slow, though the site's probably getting hammered by Reddit/HN. Great concept though.
EDIT: Or apparently they did and my connection is still too slow to catch up.