0:00 - 0:17 - The video opens with Daniel Johns, dressed as a teddy boy from the 1950's, playing a Gretsch guitar. Chris, with a double bass, and Ben are also dressed in this style. The opening riff has sort of a rockabilly feel to it.
0:17 - 0:34 - All three members are now dressed identically, in black suits, evocative of the Beatles. Daniel is playing a Rickenbacker guitar (the same one he uses on The Greatest View?) through a Vox AC30, whilst Chris is playing a Beatle bass through an old Vox bass rig. Ben's drum kit has "Silverchair" written on it, in the same style as the Beatles.
0:34 - 0:49 - The members are now dressed in psychedelic clothes, reminiscent of the late 60's. No one particular band is referenced, but Daniel is using a classic guitar - either a white Fender Stratocaster (Jimi Hendrix) or a psychedelic Gibson SG (Eric Clapton/Cream). This part of the song reminds me of the Who's "Substitute", so that's where I got the idea from.
0:49 - 0:56 - This is more of a 70's hard rock setting. Again, no one band is referenced, but the style is reminiscent of bands such as Led Zeppelin, Deep Purple, Queen, etc.
0:56 - 1:13 - This setting is evocative of punk rock, such as the Sex Pistols, or the Ramones.
1:13 - 1:27 - The band members are dressed like a generic hair metal band of the 80's. Think Twisted Sister, Bon Jovi, Poison, etc.
1:27 - 1:47 - We alternate between some of the previous bands/genres referenced. At the 1:46, we fade to white.
1:47 - 2:09 - We fade from white to see the band members dressed in white suits and holding no instruments, reminiscent of a boy band. They are in a pose until the drums kick in, then start dancing. It's not meant to be perfect, it is simply parodying boy band videos. Daniel takes the lead at 2:03.
2:09 - end - We alternate between all of the previous bands/genres seen.