Yes, just got around to watching it. It's basically The Office: Muppets Edition. I'm okay with the format itself but the execution left a lot wanting. You can get away with a lot of things with the Muppets as long as it's funny. This was pretty lacking in that department. Though there was one great line from Pepe that had me cracking up for a while. Ultimately, as mediocre as this first episode was it was still a breath of fresh air after the last two movies.

Anyway, it should be noted that this isn't the first time the Muppets have toyed with more adult sensibilities. After the success of Sesame Street Jim Henson didn't want the Muppets to be pigeonholed into being strictly for children. So to combat that, in 1974-75 he created two pilots for new series one of which was titled SEX AND VIOLENCE.