It's what the market wants, apparently. The digging will continue while the market exists. I thinks it's brilliant performance art and provides some introspection to a part of capitalism.
CAH's black Friday stunts have consistently shown that people will spend money on stupid shit they don't need. Maybe there's a deeper lesson in there on the nature of people?
Looks more like a critique to government spending money on unproductive shit as a measure to "improve the economy". The difference is that you are forced to finance that through taxation, whereas the hole digging is voluntary.
I don't know how people are making connections to government of all things. Because there are excavators there?
Anyway, judging by the history of CAH Black Friday stunts, I'd say it's definitely a critique of consumerism - of people spending money to buy stupid shit. The difference between CAH and all other Black Friday sales is that CAH tells you up-front you're buying stupid shit (at one occasion, they literally sold bull shit).
I don't personally think it's a commentary on government, but it's a reasonable conclusion. It was John Maynard Keynes who famously said (talking about government stimulus) that the government should "pay people to dig holes and fill them in again". As a result, a hole is the classic example of a useless government make work project.