Well, I will only say that my friend and I did not know what "The Aristocrats" joke was until we watched it ...

What is good ...
-- Frankly, I only like one scene, the "pack of cards" rendition of the joke ... hee hee ... 

-- And to some extent, the mime rendition of the joke ...
-- And to some extent, the South Park rendition ...
-- And if you insist, from a film critic's perspective (as opposed to a moviegoer), there might be some food for thoughts issue (despite the premise of a comedy) about how beliefs/tolerance/etc had evolved over the years, across different gender, across different ethnicity, etc ... but in my humble opinion, most average moviegoers wouldn't be bothered ... 

What is problematic ...
-- Hmmm ... to watch the film, you have to be receptive ... you should not be offended by any kind of jokes ... some audience walked out half way ...
-- As a matter of fact, the cast of comedians (in the film) laughed much more often than the audience (at least during my screening) ... 
The main reason: the jokes became rather repetitive after a while (i.e., even with different versions by different comedians) ... 
-- Maybe some comedians or some jokes are more "localized"?! 
e.g., My friend and I did not understand why near the end, Gilbert Gottfried can solicit so much laughter during his TV filming, but not necessarily from the theater audience ...
-- Hmmm ... some people may not like the idea of two comedians telling the joke to their own babies (even though their babies were too young to understand the joke) ... 
-- Finally, it might be good to provide the names of the comedians during the film as opposed to the end, esp. for audience who do not know who they are ... 
* pardon our ignorance * 

Conclusion:
-- You have to be prepared ... do not be offended ...
-- Also, I wonder if Americans can appreciate the sense of humor/joke better than other nationalities ... in part because they know the comedians better

** Despite NO rating, I definitely would NOT bring kids to the film ...