It actually oversimplifies all four dimensions, if you can even claim with any surety that there are exactly four dimensions. There are things like "third gender" [1] and there are demisexuals [2] and there are asexuals and so on.
What I like about it is that it's just slightly too big as a concept presentation (though it feels like it isn't) and mostly evokes the recognition that There Are Things You Didn't Know About.
rapid picture link ps: http://i.imgur.com/t7Lfh4p.jpg