The episodes are funny and the dialogue is pretty crisp, but I think the show has the same fatal flaw as Studio 60: All of the conflicts aren't really conflicts. They have to invent silly things like the dog show in order to get the characters into tight situations. And having someone constantly bitch about having a job that most people would dream about having, like running an arena or producing an SNL-like comedy show, is itself kind of ridiculous. Most people would kill to switch with these people, so why would they constantly act like they are in hell?
But I'm still watching and (for the most part) enjoying it.