Essentialy, she's saying how stupid and empty most hip-hop stuff is when you sing the lyrics in some other way like a dirge or a ballad.
It's kind of a double parody, the surface is just how vapid the lyrics are, the second layer is how sad, empty, superficial, horrid, and meaningless your life would be if it was all just sex, sex, party, sex, party, party, party, shaking it for the guys, sex, party, party, party...
Alanis is just a bit too "Lillith Fair" for my tastes, and there's probably a
reason that guy dumped her which inspired her smash-hit "
You oughtta know" which launched her career, but credit where credit is due, I've got to give thumbs-up to her for this one.