A decent, long-form meditation on Nietzsche's contribution to philosophy of language and linguistic norms. Although Sloterdijk signposts an argumentative essay in the introduction (or rather he signposts two different potential arguments), the following four chapters don't bear out a tight argument. Instead, each chapter wanders through some historical context and interpretative reading to draw out an interesting aspect of Nietzsche's contributions.
The writing style also cuts against a tight argument: Sloterdijk uses academese, which makes for some overly complex run-on sentences with buried verbs and ambiguous deictics (ie "pointer words" like this, that, these, those, it). Occasionally, these complex constructions result in beautiful phrasing; usually, they make the reader do unnecessary mental work—even rendering some passages impossible to confidently interpret in a single way. So the text lacks some clarity, but enough insights remain to warrant a read by those familiar with Nietzsche, philosophy of language, or intellectual histories. Plus, Sloterdijk's brings to bear his own set of provocative, Nietzschean claims:
"Languages are instruments of group narcissism, played so as to tune and retune the player; they make their speakers ring in singular tonalities of self-excitation" (8)
"The Enlightenment is a really a language game for cognitive winners, who continually deposit the premiums of knowledge and critique in their accounts, and exhibit their cultural funds, while faith gets increasingly hidden behind a barrier of embarrassment, to be crossed only when one is among like-minded others, and, moreover, is ready to give up the advance boasting potential of the Enlightenment" (25)
"As text-composer, Jefferson performs the literary imperative of Modernity: Where legend existed, the news must come! At stake now is to swap all sacred agents for terrestrial heroes. Jesus can only be the hero of a novel or a participant in discourse" (26)
"The discursive event which bears the name Nietzsche is characterized by the infringement, within him, of the high-culture separation between the Good News and self-celebration" (51)
"Fascisms, past and future, are politically nothing other than insurrections of energy-charged losers, who, for a time of exception, change the rules in order to appear as victors" (77)
"On an intellectual level [Nietzsche] is a radical bisexual, a star which fevers to be penetrated, and a sun which penetrates and 'prevails'" (80)
"Nietzsche could be described as the discoverer of hetero-narcissism: what he ultimately affirms in himself are the othernesses which gather in him and make him up like a composition" (81)