I think it's as good as any solo album cover he's done, aside from "Viva Hate", which is his best. As someone else already said, it's the wit of the photo: his facial expression, his hands, the violin, and the tuxedo are all amusing and clever. And even though it's a joke, he still pulls it off with incredible aplomb. In the photo he's every bit the elder statesman that he is now, perhaps a refinement of the "Mozfather" theme of "Quarry".
My only complaint is that this is two albums in a row now which have him using a prop on the cover. Strikes me as an odd repetition, but that's a minor quibble. I can't wait to hear the album, and seeing the cover only adds to my enthusiasm.