The concept is very new. And your take on it too was quite unexpected.
When I read the title I never imagined it would be on "bleeding" I rather thought it was something to do with watching the rain and not watching oneself bleed.
Now for the poem, As i read line after line, i discovered more and more about the first-person narrator of this poem. Initially it seemed fine to look at oneself bleeding but as i read more and more i started believing that the person in the poem is a bit lose in the head. (I hope your POV is also the same for the narrator of this poem)
The rhyming scheme is good and straight forward nothing twisted so a layman can also understand this poem very well. And The thing that makes this poem special (Apart from the concept itself) is the use of the device Repetition. Well used.
The 4th Stanza was a li'l bit "flow disrupting" . I mean, There was not much continuity at all. I felt there was something missing like "On the tiles it split and splattered" Though the words are brilliantly used, it kinda didn't give that effect. "To clean this up is such a chore
but I watched it drip some more" But i guess these can be excused cuz the narrator sounds loopy.
The ending was awesome as usual and Overall, the effect was good.