Hmmm... yeah, it is hard to tell with a 30 second clip with someone basically saying 2 lines. The character could be a LOT better than what we're seeing here. From what I can guess, they wanted someone who's also a straight man for whatever wacky Muppet surprises could pop up. He could just as easily be as insane as most of the others. I could easily see him apologetically screwing things up and getting easily frazzled.
When you think about it, the Swedish Chef is a little on the nose. And he's been the focus of a LOT of these virals. But he is a very integral character to the Muppet Brand. And who's to say he won't show up at a later date?
All and all, this is a wait and see thing, because... well... there's so little to go on with a 30 second trailer. Angelo may be a terrible character, or a very good one. We just can't be sure until we see the final, full length project.