The cream part is pretty minor, IMO. He's just applying it to the corners of his eyes. He's not greasing up the man's torso. Note the guy in the chair comes off as ridiculous too. Vanity is an easy target for ridicule. That's what the whole shootin match is about. It's like making fun of somebody's comb-over or elevator shoes.
And a movie clip obviously works better than a still. In a clip he looks like he's performing, again like Travolta.
mbs
I beg to differ. He looks ridiculous b/c he's in that outfit applying cream to a man's face--ie doing the most stereotypically gay job possible ("cosmetology"). It is _parodic_ of disco, but there are/were still hetero-compatible masculine styles associated with disco--Travolta being one. The ad is clearly pointing out that he is _not_ that (ie if they were going for a send up of poor/dated fashion sense, it could be accomplished with a cropped still, or a different clip from the show.). Given what else was possible for the ad--like, really targetting the financial scandals--it is viciously homophobic.
Chrisitan