Here's the problem I see with this.

1. Yes, it helps in branding....however.....
Who are they marketing their brand to? People tune into the superbowl for football. Many people, during the commercials, are relieving themeselves of the beverages they drank during the last few plays, or refilling their plates, etc..

Only those who stay in front of the television will see the commercial. However, this of course lowers the audience.

2. Branding only works when the audience is receptive of the product your selling. If they don't need it or care about it, your brand will be replaced in their mind by the next obsurdly funny commercial that plays after it.

3. The superbowl is known for their wildly funny commercials, as mentioned in #2. If GoDaddy cannot come up with something in those same leagues.....the only thing they may be remembered for is "Hey, remember that boring commercial during the superbowl?"

4. This one is key....
During the superbowl it is a widely known statistic that Americans consume more snacks, pizza, and alcohol. This, no doubt, explains why the beer commercials are so popular. However, think about how well branding works when your audience is drunk. They remember the beer commercials for a reason. In fact, the beer commercials are the only commercials I can remember. All of the others leave my mind as soon as the game is over. For example....Viagra, is already a highly popular brand, but who remembers the Viagra commercial during last year's superbowl? Now, who remember's the Bud Ice commercial with the penguin...Doo Be Doo Be Doo (which premiered 4 superbowls ago)?

In my opinion, it's a mistake, but again....that's just my opinion.