Godard is having fun here (fun is not characteristic of most of his work). He's playing the idiot of Dostoievsky's novel, a director who won't compromise his work. As he did in One plus One with the Rolling Stones, he's working with a band, Les Rita Mitsouko, as they put together the various strands of their new song. I suspect the challenge of constructing watchable material out of the recording studio chaos was the appeal for Godard.
The story is goofy; more like a Pierre Richard slapstick comedy than the intellectual films of the 60's. This must hold the record, for a Godard film, of cameo performances. The only really memorable sequence is on board a plane; with the passengers crammed in their seats and doing lots of shtick, it's a little like Duck Soup.