That was pretty rough. Will give them a few more episodes and see if they end up somewhere a bit more consistently entertaining.
The Muppet Show is both hard to live up to (for older fans) and a straight re-make probably would not work well on modern TV (for younger audiences), so I appreciate that they don't have it easy here.
Episode four was pretty solidly funny. The B plot with Fozzie was a little weak (I just don't think Fozzie works well on his own), but the A plot entertained. The Swedish Chef rapping was great.
Fozzie has always, ironically, worked best as the straight man. Having him lead a storyline doesn't work well unless the other people are crazy rather than cruel.
The past cannot be changed. The future is yet within your power.