It does a few things well. It tells the audience how to watch the show by expressing which the characters are and how they relate (Usher and His Thoughts), and it expresses the idea that this is a play in some way about community. It’s also welcoming: where the original art is Usher gazing at his own navel which is a theater in which he’s gazing at his own navel etc. - and which suggests here is a show for theater insiders - it has Usher looking out, as if hopeful or at least engaged, which invites us into his experience.
My only real critique is that the lettering only makes sense when the words are stacked on top of each other; out of context, the different sizes don’t make sense and aren’t visually appealing.