If satire is the holding of vices, follies, abuses, and shortcomings up to ridicule, then, technically, it's satire. Though, if the object of the satire was to be Kim Jong Un, then, since he is already such a caricature, one is, technically, hard pressed to see what was satirized. He's already a man-child with nuclear resources and a nation's necks under boot heels, and the rest of the movie was remarkably gentle on every other thing it could have poked fun at. But for as long as no one else comes forward to put into moving pictures that, man, it's kind of ridiculous how all these rigid commie dictatorships are so inhumanly stylized, and look how they prop themselves up on high-contrast, low content formal cultures, it's just so insane!, then this is what we have.
I think the movie was kind of gentle on Asian cultures. I think it plucked absurd parts out to highlight them, and I think I lol'd most often (aside from bum jokes) at those times I perceived, omg, that's an image that'll get the Chinese and/or Koreans bent out of shape, that stuff is super serious when they do it and omg now it's looking as comical as it always has been. As a late in the movie example, the trio of child guitarists, for instance. I think if they did that kind of thing *and* tried a Team America approach, it'd be racist. It'd be mocking Asian culture for even trying to be a culture at all. As it is, the damn movie was kinda almost inclusive, fingers bitten off an all. Hell, they even gave the machine gun to the girl.