It's not real! Sshhh!
I enjoyed it, highlight was when Kat Deeley told the audience to "fucking shut up!", and there were plenty of well observed gags on the sheer ridiculousness of TV Talent shows, especially the plays on self-evidently-obvious presenting, and also the not finishing sentences in order to raise tension to confusing extremes.
All the medleys were beyond ludicrous, especially Peter Kays, but I particularly liked the 2-Up, 2-Down group, dressed as Superheros, flying out of wheelchairs to rescue stuff caught out of reach of pathetically poor kids.