Let us get it out of the way early, this is a fanservice anime first and foremost. The episode summary explains it pretty well, but if you didn't catch it...there is a demon character that shoots acid...from her breasts. Yes, you read that correctly. If you're expecting some deep meaning or philisophical story, I hate to dissapoint you, but this is not it. While this is far from ever becoming a "classic" in any sense of the word, it is very entertaining, from a male perspective. Don't expect any girl empowerment here as the series (from what I can glean from this episode) seems to just be a series to see how we can uncloth the girls of this series in the most odd ways.
I personally enjoyed it, if you don't like fan service...do yourself a favor and stay far far away from this series. If you're looking for a series that is all about the boobs, here it is, full exposure and all...with exploding boobs, yes we get to see exploding boobs! I can't wait for the next episode to see how ridiculous this can get.