If they released this through a different medium - ie, FREE on their site - it would have a chance at being funny or clever.
However, the problem I have is that this is the 8th Linkin Park Underground CD. There are people, like myself, who renew each year with an expectation of what we will get. To go from the 'Hybrid Theory EP' to this is an insult, and misleading, based on past releases.
Unless Linkin Park advertise that it's a joke, it's unethical, and I feel bad for people who don't go to fansites or message boards to get their LP news, and who will just put "LPU" on a Christmas list and be bummed out that their favorite band fucked them over.
Of course, it could be fake. But if it's notl, what can we expect next year? A live piano version of "Bubbles"?