I finally saw this episode and...I think Jim Henson would be proud.
Pros: This series has great adult humor, which was part of Jim's original intention in creating the Muppets. Yet it has something that older kids can enjoy, too. Also, the Muppets are still the same old quirky, lovable family that we've come to know them as. Kermit is still the de facto leader, Miss Piggy is still the demanding diva, Fozzie is still an insecure comedian, and the Electric Mayhem are still a rocking band. Bill Prady and the new writers have seemingly stayed true to the characters' personalities. And they even gave Statler and Waldorf their own place to sit in the TV studio...just like in "the old days," if you will.
Cons: I wonder how the relationship between Fozzie and his girlfriend is going to develop. It doesn't seem too deep right now, and I'm afraid it's going to turn into something right out of the Big Bang Theory. (Considering that Bill Prady is a writer for BBT, that might happen.) As the series progresses, I personally wish to see spotlights on characters like Gonzo, Scooter, Rowlf, Sam, Rizzo, Pepe, Bunsen, and Beaker. Heck, maybe they'll even devote a subplot to Uncle Deadly! But that might be asking a bit much...