What a lot of people seem to be missing here is that art is created to be consumed by someone else. I'm an actor and if I put on a show, I want to get feedback. My artistic decision might be to play a character comically, but if everyone comes up and says "that didn't work, he should have been played seriously," then I have failed regardless of what my artistic direction was. The same can be said for other mediums. If they're attempting to show a certain genre or style, and a piece of the show detracts from the mood or feeling of that medium, then they should fix that, as it makes a better show.
The video clip above was extremely excessive, unrealistic, and the most blatant kind of fan service. Is this automatically bad? No, of course not. Look at To-Love-Ru. That show is that but worse, but the fan service is the focus of the show there. So that fan service adds to the intended emotion and feel of the show and as a result, I actually enjoyed the series even though I didn't really find any of the fan service attractive (big tits and bondage just aren't really my thing). In HSOTD, the primary focus is the zombie apocalypse and all the horror and drama that comes with it. The show is a zombie horror series, like The Walking Dead, and is consumed for the same reason. However, they also feel compelled to throw huge, floppy tits in whenever they can. This takes away any feeling of tension or drama the scene might have had and replaces it with either arousal, disgust, or confusion (in my case). Can you imagine if The Walking Dead had to have bikini models on trampolines every other episode? I don't think it would have rated as highly as it did.
The all-important thing to remember in every artistic medium is context. Does the content of the scene fit the intended context? I've found that at least in the example of HSOTD, the answer is usually no. It tries to go for a more serious zombie drama, which the gratuitous fan service distracts from. If it was an undead splatterfest like Zombieland or Dead Rising, then the tits would fit right in, as the purpose is fun and coolness rather than drama.