My almost-2-year-old boy asks us to read this book to him multiple times a day. The illustrations are good, and the story (to the extent there is one) makes sense and is engaging. The illustrations are probably too busy for a really young toddler, though. Lots going on here.
I question some of the descriptions of instruments, though. An animal wearing a wrap-around tuba is described as "trumpeting", and an animal playing what appear to be bagpipes is said to be playing the fife. Perhaps these terms were interchangeable long ago, but for now it's not accurate and just a slight bummer to have to change the text as you go.