I remember watching this on TV, back in the day, and thinking it was one of the best things I'd ever seen on television. It's still a good show today.
Of course, this is a concert, and it's about the music. It's David Bowie, so what else needs to be said? I'm not even a fan really, but they've gathered together here his most accessible and popular pieces, and the result is very enjoyable. That voice is irreplaceable. It helps if you already know the lyrics through (or through the wonders of the internet, you just look them up...). I gained a new respect for the music this second time around.
The visual elements are showing their age, particularly on VHS (hey, the thing still works!). If only Bowie had had access to digital HD like today's performers do. Still, this is a fun time capsule from the late '80s.
The dancing is low-key but theatrical, and I liked it, although some others didn't. Your mileage may vary.
OK, the spider thing is a bit silly, and whatever little story they tried to weave with it didn't really work. But you remembered it after two decades, didn't you? I think that's the point.