He'd be doing something like this:
Gilliam is indeed alive but making movies, and great ones at that. Or so I've heard, I haven't seen anything since The Adventures of Baron von Munchausen, which was excellent. Time Bandits is good too.
Anyway, he's alive. And this is a collection of .gif clips, some of which I've seen elsewhere, set to a weird song that may have been composed on an Atari 2600 or something Old School.