Why did the Gap squander that brilliant Spike Jonze commercial?

Slate wonders why the Gap squandered that brilliant Spike Jonze commercial, and looks at the future of the brand itself:

I was thinking about the fact that Monica Lewinsky’s famous blue dress came from the Gap. That was back in the mid-1990s — rosier days for the company. Can you imagine a White House intern now — a well-off woman from Beverly Hills who considers herself fashion-forward- — buying a dress from the Gap? I can’t. Maybe Banana Republic… It’s just a sign of how badly things have gone for the brand: They can’t even get world leaders to ejaculate on their clothes anymore.