Just a little too cheerful to me to be evil, I mean like evil evil because it had that tone for sure, but it just didn't quite make it there. That being said I could vision this being in an old scary sega game or 8-bit flash game during the introduction. It may even make a decent gameplay song in that style of game, but I probably would end up turning my volume off or down after a few play through a.
It really ends abruptly doesn't it? No sort of build up whatsoever or actual ending other then the music just stops. Was it meant to loop around? If not then my biggest critique has to be the abrupt ending.