To me, it does seem a TAD early for a "reboot" considering I thought the most recent episode had the most laughs. Everything with Electric Mayhem was funny this past week, and I legitimately enjoyed the dynamic with Kermit and Piggy and the gift buying this week also.
But there have been entire episodes where nothing has been BAD or anything, but I haven't even cracked a smile.
In the old Muppet Show, that could be okay because even if an episode wasn't funny, it had an act or a song or something that was a spectacle. This show positions itself PURELY as comedy, so when you don't laugh, there's really nothing else to it.