I just received the first 2 pages of my first draft of my master's thesis (approaching year 3, time to get out, fast fast fast defend in september) and it is covered in red, more red than ink, no sentence untouched, not a square inch of paper without text. My adviser is re-writing the whole thing, mainly because he doesn't edit, but only re-writes, and we have a very different idea of what academic writing ShouldBe

So...I need some advice. Do I bring up how frustrating, unproductive and potentially offensive this is before my adviser super-edits it all? Or shut up, do the edits, and wait another few weeks for the next?

Side notes:
The only thing I've liked about my thesis in the last 18months is when I've written things
I was really happy to receive all the crazy corrections on draft 1, instead of the usual minor minor corrections for 3 drafts before the big one.

Thoughts? Experience?