Oh that rat bastard! How could he turn his back on Batman and the rest of the Justice League!?
Some context: In the early 90s, Hulk Hogan jumped ship from WWF (now called the WWE) to its rival professional wrestling promotion, WCW. In 1996, he staged probably the biggest shocker of all time when he turned heel (became a bad guy) and formed the New World Order with two other villainous wrestlers, Kevin Nash and Scott Hall. Hogan's turn was shocking because he hadn't been a bad guy in like a decade at that point. It's actually a pretty cool moment in professional wrestling, as Hulk Hogan reinvented himself for the 90s as "Hollywood" Hulk Hogan.
The video parodies the heel turn, replacing Hulk Hogan with Superman and Nash and Hall with Lex Luthor and Solomon Grundy. The guy interviewing Superman is supposed to be "Mean Gene" Okerlund, who interviewed Hogan after his heel turn. In fact, that's the actual audio (albeit, slightly manipulated) from the interview.