Season Three Was Not as Good as Seasons One and Two (spoilers)
I recognize some people will disagree, but I felt Season Three just was not as good as the first two seasons. The bottom line for me was that the character of Charles was a profoundly unsympathetic character in that he was so unpleasant to his fellow actors and he betrayed the trust that Geoffrey had in him by not disclosing that he was dying and was in no shape to do a demanding role like Lear.
Those facts made it impossible for me to believe that Geoffrey and the rest of the actors would rally around Charles to stage a lame production of the play that hardly anyone would see and certainly not pay for to make Charles happy.
I know theater people are different but I don't think they're so different that they'd be willing to do all of that for someone who ruined a major production that they depended on for employment. For me at least, it was not believable and a let down.
Another (minor) gripe was that the show depicted all the actors who were doing the musical as morons and/or shallow drug taking airheads. I'm sure that real life actors in that specialty did not appreciate that depiction.