It's kind of a mess.
I had hope for this, but the whole concept is lost. It is funny, but the set up and format rely on the same jokes and material to maintain throughout. As with almost every show Craig does, the monologue is the best part, but it pretty well makes the rest of the show a retread of the monologue. Craig can easily excel against third rate comedians and historians trying to be humorous. It was too easy to see which bits would be dropped at each interval. I even selected all of the eventual the winners before the first commercial.
This needs variety and gimmickry. The budget seems low enough to get a renewal, so I do expect reasonable changes in season two.