I totally get the public reaction has been middling. It's more conservative[sup]1[/sup] than the Colbert Report in quite a few ways, and so it makes sense that people are disappointed in that regard. On the other hand, I think it's actually pretty subversive for a major network late night show. In his first week alone he's taken a ton of risks that nobody else has in a very long time--not Fallon, not Kimmel, not Letterman, not Leno, and not even Conan's Tonight Show stint (except maybe his glorious last week of giving NBC the finger as conspicuously as possible).
To wit, we've already seen:
- Multiple segments of direct political commentary
- A really personal and emotional twenty-minute interview with the Vice President.
- A few lengthy segments of absurdist nerd humor (e.g., the amulet bit).
- A tone that's largely been deadpan, sarcastic, and self-deprecating.
Frankly, I think he's bringing back the edge and weirdness that made Letterman such an institution (before he got kinda stale in his latter years), and on top of that, he's probably the most directly political host any late night show has ever had. If you look at those elements relative to the current landscape, it's really ****ing out there. Like, go watch an episode of Fallon, who's riding a wave of popularity by returning to "being nice" and focusing less on news and comedy, and more on celebrities and throwaway "viral" bits. Colbert is basically doubling down on doing the opposite.
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[sup]1[/sup] In terms of risk-taking; I don't mean the liberal-vs.-conservative political sense.